1990 Reinvesting in China

Corporate
Aviation
Trading & Industrial
Swire acquired a major stake in Dragonair.
ICI Swire Paints opened a production plant in Shanghai in 1999.

The 1990s would see Swire begin to reinvest in Mainland China in a variety of sectors, in addition to its stake in soft drink production, as an anchor bottler in The Coca-Cola Company’s China system. In 1990, the group acquired the majority shareholding in regional airline Hong Kong Dragon Airlines ("Dragonair"), providing a major foothold in the growing aviation market in China. Meanwhile, Swire Pacific's paint manufacturing and marketing business merged with world-renowned paint producer ICI to form ICI Swire Paints Limited. Renamed after the acquisition of ICI by AkzoNobel in 2008, Swire Pacific now holds 40% of the joint venture. Akzo Nobel Swire Paints has plants in Guangzhou, Shanghai, Hebei and Chengdu servicing Mainland China with a wide range of products under the well-known Dulux brand.

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