KANSAI PLASCON ACQUIRES SADOLIN PAINTS - FINANCIAL-24
Kansai Plascon Africa, a subsidiary of Japan based Kansai Paint, has concluded its agreement to purchase the Sadolin Paints operations in Tanzania and other East African countries.
This was announced by Kansai Plascon Tanzania Managing Director Amin Habib, during a press briefing in Dar es Salaam over the weekend.
“We are thrilled for this acquisition,” Mr Habib said adding: “We will be able to tap into Kansai’s strong brand heritage, and trusted performance, providing us with new capabilities, access to technology and a know-how.”
The acquisition will see no changes in top management or any other positions at Sadolin. The company will continue to operate as optimally as it has been with the current employee base.
Mr Habib, will keep his position as company’s MD, said they are now going to benefit from new and improved technologies from Kansai Paint. Kansai Paint is a global company with major operations in Japan, China, Asia, the Middle East, Europe and Africa.
Its product offering covers the decorative, industrial, protective coatings and automotive segment. It has research and development facilities in Japan, India and South Africa. Since establishment in 1967 in Tanzania, Sadolin Paints has grown to become one of the country largest paint manufacturer. Sadolin market share was estimated at over 50 per cent especially in automotive and protective coating paints.
President of Kansai Plascon East Africa Gary van der Merwe said East Africa was one of the fastest growing regions in the continent, with a rapidly emerging middle class, increased spending power and growing urbanization.
“This is, therefore, a good time to launch into a market that is in need of our wide range of products to enhance their lifestyles, while also increasing our global footprint,” the president said. Kansai Paint is a top ten coatings company globally. In the last 10 years it had embarked on a global expansion drive.
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