Holding company RPM International has announced that its subsidiary, Carboline Company, has acquired a 49% interest in its Chinese licensee Carboline Dalian Paint Production Company.

The remaining 51% of the joint venture will be owned by UniChemical Company, a long-standing partner of Carboline in another joint venture, Carboline Korea.

Carboline Dalian, with sales expected to approach USD10 million, manufactures corrosion control coatings and linings for a variety of industries, including offshore drilling, oil and gas, petrochemical, general manufacturing and OEM, and nuclear and conventional power.

Carboline Dalian's headquarters and manufacturing facilities are located in Dalian, Liaoning. The company, which employs 60 people, also has a sales office and warehouse in Shanghai.

The terms of the transfer have not been disclosed.