News Release
Acquisition of Full Ownership of CHUGOKU-BOAT ITALY S.p.A.
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. |
Contact
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Management & Planning Div.
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