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Current in 12 nations around the world in Africa, Kansai Paint has regional consolidated profits of close to €280 million. The transaction involves the Plascon brand name, which has extra than 100 yrs of heritage in South Africa. Jointly with our have Dulux brand name, they’re the longest-set up paint brand names in the location. The intended acquisition also features automotive and protective coatings, and coatings for wooden and coil. 

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“Acquiring Kansai Paint’s functions in the region will help us to even further grow our paints and coatings small business in Africa and provide a robust platform for foreseeable future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we glance ahead to combining our knowledge, which will final result in a broader selection of progressive items and extra sustainable alternatives for our consumers.”

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Adds Kunishi Mori, Kansai Paint’s president: “We are certain that AkzoNobel is the most effective owner as AkzoNobel considers the attractive paints business enterprise as a main business and will as a result be able to unlock the comprehensive possible of the business enterprise, therefore contributing to the enhancement of the African financial system.

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”For Prejay Lalla and Arvind Shekhawat, Chief Govt Officers of KPAL and KPEA (the respective Africa entities becoming bought by Kansai Paint in this transaction), this agreement is an prospect to additional improve progress. “We think that AkzoNobel will be the owner who will elevate the company to the up coming amount as AkzoNobel is keen to invest in ESG, is committed to innovation, workforce advancement and broader vocation options as nicely as the very long-phrase accomplishment of its paint enterprises in Africa.”

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Commenting on the deal, Jan-Piet van Kesteren, Controlling Director of AkzoNobel’s Decorative Paints Europe, Center East and Africa enterprise, states: “Kansai Paint Africa is a beautiful addition to our existing solid enterprise which spans across 9 countries in the area. The acquisition will complement our portfolio of leading positions in eye-catching markets and entire world course brand names in Africa, though driving growth in appropriate rising marketplaces. It also features us the exceptional option to welcome an additional powerful brand with a heritage of much more than 100 yrs and a vast distribution network.” 

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The meant acquisition follows on from a collection of the latest acquisitions by AkzoNobel across paints and coatings over the last two years, which includes Titan Paints in Spain and Portugal, New Nautical Coatings in the US and, most a short while ago, Grupo Orbis in Latin The united states.