TOKYO -- Nippon Paint took its 60-year partnership with Wuthelam one step further with its decision to become part of the Singaporean conglomerate, joining its expertise in product with its new parent's extensive resources to take on industry leaders.
Wuthelam will expand its stake in Nippon Paint to 58.7% from 39.6% through a private placement of shares in a roughly 1.3 trillion yen ($12.3 billion) deal announced Friday.
