CHUGOKU MARINE PAINTS, LTD. ("CMP") hereby announces that it has recently acquired remaining shares held by a minority shareholder in its Italian sales subsidiary, CHUGOKU-BOAT ITALY S.p.A. ("CHUGOKU-BOAT"), through its core European subsidiary, CHUGOKU PAINTS B.V. ("CPBV").
Since November 2012, CMP has owned a majority stake in BOAT S.p.A., through CPBV, which formed CHUGOKU-BOAT, with the aim of promoting the CMP brand and expanding sales in Italy and other related regions.
In 2025, CMP also acquired 100% of the shares of ITALO BELGE COLORI S.r.L., an Italian paint manufacturer, hereby establishing a new production system. Following this, CMP purchased the remaining minority shares in CHUGOKU-BOAT, making it a wholly-owned subsidiary of CMP.
Through this acquisition, CMP aims to further strengthen its production and sales systems in Italy and enhance its overall networks across the European region.
■ Overview of CHUGOKU-BOAT
| Company name | CHUGOKU-BOAT ITALY S.p.A. |
| Address | Via Macaggi, 19, Genova, 16121, Italy |
| Establishment | May 23rd, 1989 |
| Capital | EUR 2,600,000 |
| Business | Production and sales of coatings in Italy and other related regions. |
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