The joint venture, Kova Everpaint Company, will provide services on execution coating, waterproofing for civil, industrial and transportation works. The company also provides execution painting and interior and exterior decorating services for construction projects.
“The joint venture aims to tap the rising construction demand in Vietnam,” said Nguyen Thi Hoe, chairman of Kova Paint Company.
Kova specialises in researching, producing, distributing and applying all kinds of paint and waterproofing in Vietnam. Meanwhile Everpaint Investment Pte, established in 1984, is one of the leading painting applicators in Singapore.
“It is a great partnership between a leading paint manufacturer in Vietnam and a leading painting applicator in Singapore. We can combine the high quality products of Kova and experience of Everpaint Investment to offer high quality services to our customers in Vietnam,” Hoe said.
Kova will hold a 51 per cent stake in this $1 million joint venture.
Right after launching Kova Everpaint Company, joint venture general director Ngo Sy Quang signed six contracts, worth $1 million, with Vietnamese partners for executing construction projects in Hanoi and other provinces.
Ngoc Linh (vir.com.vn)