Kansai Helios Coatings GmbH (¡°KANSAI HELIOS¡±), a European consolidated subsidiary of Kansai Paint Co., Ltd. (Headquarters: Kita-ku, Osaka, President & CEO: MORI Kunishi, hereinafter referred to as ¡°Kansai Paint¡±), announced on February 8, 2024 that it would acquire 100% of WEILBURGER Coatings GmbH and WEILBURGER Asia Ltd.(Hong Kong (collectively, ¡°WEILBURGER¡±), which are under the umbrella of GREBE Holdings GmbH and are responsible for the industrial paint manufacturing and sales business, and the acquisition has completed on May 14, 2024.

WEILBURGER is a long-established paint manufacturer that has been operating globally for more than 120 years since its founding in 1900, mainly in Europe. Approximately 600 employees are employed at 7 production sites. Consolidated sales in 2023 are expected to be around EUR 150 million.

¡¡With the acquisition of WEILBURGER, Kansai Paint Group will greatly enhance its position in the Industrial coatings market, introducing and expanding WEILBURGER¡¯s unique technologies, such as non-stick coatings used in frying pans and irons, and heat-resistant paints used in stoves and fireplaces, and important business of railway coatings.

¡¡Under the 17th Medium-Term Management Plan, Kansai Paint Group is engaged in small- and medium-sized M&A mainly in Europe and India. To date, KANSAI HELIOS has acquired Wefa¡¯s railway business assets (August 2022), CWS Group (February 2023), and Beckers railway business assets (May 2023).

¡¡Going forward, in addition to focusing on creating synergies through WEILBUGER¡¯s participation into Kansai Paint Group, we will continue to implement the Group¡¯s strategy of ¡°Aggressive investment in growing markets¡± to achieve sustainable enhancement of corporate value.