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Nippon Paint has said it will be investing PHP100M (US$2.278M) into its Philippine arm, Nippon Paint (Coatings) Philippines, to rake in more sales in the next three years.
Nippon Paint Malaysia Group, the owner of Nippon Paint (Coatings) Philippines, is targeting PHP1.5bn (US$34.162M) in sales turnover by 2017.
As part of its expansion strategy in the country, the company will deploy its Nippon Colour Creations tinting machines to be housed in paint centres and modern trade outlets nationwide.
"Worrying of being told that their preferred colour is not available or in stock is now a thing of the past with Nippon Paint Colour Creations tinting machines. In fact, with more than 10,000 paint formulations in our library, Filipinos will soon be spoilt for choice," said Nippon Paint Malaysia Group MD Yaw Seng Heng.
Nippon Paint (Coatings) Philippines will also bring in new products to the Filipino market, including coating solutions for roofs, floors and walls through its Total Coating Solutions and special effect paint through its Trend Beyond Colours products.
Nippon Paint operates 56 manufacturing facilities in 15 countries in Asia, with a workforce of more than 15,000 employees. In 2013, Nippon Paint’s total group sales revenue reached US$5.4bn.