Nippon Paint Holdings announced on Sept. 24 that it will build a new factory to produce paint for automobiles in the southern part of the U.S. Construction will begin in January 2020 for completion in September 2021. It also eyes expanding the factory as a second step. Total investments will amount to 60 million dollars (about 6.5 billion yen). The factory will produce paint for shipment to the U.S. southern region and Mexico, where automakers’ factories concentrate. By building a new factory, the firm aims to reduce costs, such as transportation, and delivery time.
The firm will acquire an 11.7-hectare plot in the state of Tennessee for construction of the plant. The new factory will produce resin, which is used to produce paint, and paint for cars, and hire about 150 people over five to seven years. (Abridged)