OSAKA -- Japanese coating maker Kansai Paint will withdraw from Nigeria before March 2021, a move that follows the divestment of a joint-venture holding in the Middle East, as the company shifts way from those regions and focuses on India and Europe.
The manufacturer made inroads into emerging markets ahead of its Western rivals, but the economic deceleration weighed on its earnings. The company is also withdrawing from construction-use paints in China and plans to shift to India, where demand for automobile-use products is firm.
