Best known in Taiwan for the popular Rainbow Paint brand, Yung Chi Paint & Varnish (YCP) is Taiwan's No 1 paint manufacturer with a global reputation for its coating expertise. Its foray into coil coating bolstered Taiwan's steel export industry, making YCP among the world's top 10 suppliers. "We are the only paint manufacturer listed on the Taiwan Stock Exchange. Our strategy has always been to develop new products in existing markets and to explore new markets with existing products," says YCP president Chang Te-hsiung, whose father founded the company in 1951. YCP's early success in Taiwan was established with technological advances in marine coating and water-based construction coating for China Ship Building Corporation and Taiwan's navy logistics command. Recognising the market potential for coil coating, YCP started collaborating with European and American coating authorities and Taiwan's Industrial Technology Research Institute in the 1980s. Its success in developing high-quality yet reasonably priced paints made YCP the long-term technological partner of Taiwanese steel manufacturers Sheng Yu and Yieh Phui. With pre-painted metals gaining currency in a host of industries, Taiwanese coil coating exports have reached annual volumes of 700,000 tonnes. Due to anti-corrosive properties that make end-products and structures last longer, coil-coated steel or aluminium is widely used for metal doors and roofing, office furniture, agricultural equipment, appliances, heating and air-conditioning parts, automotive parts and beverage cans. YCP's coil coating success prompted overseas expansion. Developing flame-retardant and inexpensive colour dispersion technologies by the 1990s, YCP expanded into the defence and flat panel industries. It began mass production on the mainland in 2002, extending its manufacturing capacities with facilities in Vietnam and Malaysia. Leveraging scale economies and its dedication to research and development (R&D) innovation, YCP has developed a complete product line-up that includes architecture, heavy-duty, flooring and speciality coatings. Ensuring customer satisfaction as a total solutions provider, YCP enjoys a dominant position in Taiwan. Among its clients are the Formosa Group, China Steel, Taiwan Power, Toko Steel, Wan Chi Steel and Hung Hua Construction. "We have built a strong brand over the past 60 years," Chang says. "We are working on our future with R&D on environmentally friendly, energy-saving, high-performance and multifunctional coatings." YCP is keen on renewable energy prospects such as coating for wind turbines, and is also exploring more applications for water-based paints. The company welcomes partnership opportunities on the mainland, in the United States and Southeast Asia for market expansion.