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Beijing New Building Materials (BNBM) announced the acquisition of a 78.34% stake in Carpoly Chemical Group, a leading Chinese paint company, in a landmark deal for the coatings industry.
China National Building Material's subsidiary BNBM signed a memorandum to acquire control of Carpoly Chemical Group, a paint and related products company, for a cash consideration including a RMB 10 million deposit.
Carpoly Engineering Paint successfully won a bid for Grandjoy Holdings' 2023-2025 interior and exterior wall coating centralized procurement contract, following a previous win with China Energy Engineering Group.