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[August 22, 2006]
Sherwin-Williams Company to Open Franchised Store in China
(SinoCast China Business Daily News Via Thomson Dialog NewsEdge) SHANGHAI, August 23, SinoCast -- After setting up works in Shanghai and Dongguan, the Sherwin-Williams Company is planning to open its first franchised store in China in 2007, said general manager of the company's Shanghai representative office.
China has turned into the second largest paint producer and consumer across the world, so the US paint producer will launch its business there first in Asia Pacific region, the general manager showed.
China's economy is maintaining robust growth momentum, and infrastructure construction, urbanization development, 2010 World Expo and 2008 Olympics have strong demands for building materials.
The company is expecting to take 60 percent of the Chinese paint market by creating Asia-Pacific headquarters in Shanghai.
The concept of environmental protection and healthiness has been increasingly highlighting, traditional low-end paint will be gradually kicked out of the market and brand-new technology for making environmental protection paint has become a fresh investment area, the general manager continued.
Copyright 2006 SinoCast LLC Source: Financial Times Information Limited -
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