We are pleased to announce the joint venture with global specialty coating company Cashew Co., Ltd. Based on advanced technology and market layout from both parties, this joint venture is aiming to develop the global auto parts market segment, with ambitions to become a new star of global, eco-friendly, and high-performance coatings, which will provide entire solutions to the market and our customers.

Mr. Liu Lei, General Manager of Zhejiang UVCHEM Special Coating Co., Ltd., has said, “We are glad to cooperate with Cashew to develop the global auto parts market. With the long-term technical advantages from UVCHEM, specialty technology of WB UV coatings, and high-performance UV coatings and PVD coatings, together with mature industrial experience, systematic capability, and business network from Cashew, this joint venture will be a win-win solution to both parties and their customers.”

Mr. Tsuyoshi Bekki, President of Cashew Co., Ltd., has said, “We recognize the importance of increasing business in China and further developing the global market, and we believe the cooperation with UVCHEM will utilize advantages from both parties, will target appropriate market segments, and will provide better service to our customers.”

Under the global prioritization of environmental protection and low-carbon emissions, the auto industry is reforming to promote intelligence, electrification, and reduction of weight in automobile products.  The compound annual growth rate for the next five years for new energy automobiles is projected to be 32%. New special materials for auto parts will bring new requirements for coatings. We are confident that by using advanced technology and our industrial capability, this joint venture will be ready to welcome the challenge, grasp opportunities, and is devoted to promoting the development of the industry.