On May 30, 2012, NHA, a 50:50 joint venture company between NOROO and HUALUN Co., Ltd. Yangzhou, Jiangsu, China, held an opening ceremony at the main auditorium of Yangzhou resin plant. As NOROO was looking for a partner to expand its footing in the Chinese market based on its world top class technology in resin (raw base material for paint), partnership establishment was made with HUALUN Co., Ltd., which accounts for 30% of China’s solvent market and is the no. 1 company in terms of sales. With the resin production facility pumping out an annual production capacity of 20,000 tons, NHA will produce polyester, acryl, alkyd, urethane, epoxy, and hardener for PCM, industrial, vessel, construction, and heavy duty paint markets.

Since it entered the Chinese market in 2002 based on its global strategy, NOROO has been expanding its position with NOROO Paint (Shanghai) Co., Ltd. for industrial construction paint, Shanghai KINLITA Chemical Co., Ltd. for vehicle paint, and NOROO FUTIAN Paint (Guangzhou) Co., Ltd. for automotive refinish paint. Combining NOROO’s product design technology and HUALUN’s production facility and distribution network, NHA envisions KRW52 billion worth of sales by 2015.