Japanese paint firm spends Sh10b for control of Sadolin

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Its products include the Sadolin Classic paint and the Superdec, both used for interior finishing. The company also has a sizeable share of the automotive and industrial paints market. President of Kansai Plascon East Africa Gary van der Merwe said the acquisition signals the company’s latest efforts at global expansion. “East Africa is one of the fastest growing regions on the continent, with a rapidly emerging middle class, increased spending power and growing urbanisation. 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,” he said. Mr Merwe also hinted that Kansai would phase out some products with the intention of introducing new ones from Japan. This is one of the steps the new managers plan to take as they restructure Sadolin’s operations. “After we have consolidated the operations, we shall be introducing some of our products that are not yet manufactured here to suit the ever-evolving needs and trends of the market,” he said. According to the Japanese daily Nikkei Asian Review, Kansai’s market share in the African construction paint market is about 40 per cent. The company aims to increase its sales in the continent to $484.81 million (Sh49.8 billion) by 2018. Kansai is also in the process of acquiring Sadolin Tanzania and Zanzibar.Do not miss out on the latest news. Join the Standard Digital Telegram channel HERE.