Dar es Salaam. A paint and coatings company, AkzoNobel, has embarked on plans to grow its business in East Africa.
The company’s Sadolin brand is a household name in Tanzania, Uganda and Kenya.
This comes a few days after AkzoNobel Paints Licensee, Sadolin Paints East Africa, was acquired by a competitor, Kansai Plascon.
“As soon as Sadolin Paint got acquired, we made a decision to issue notice of cancellation to the licensee. Additionally, with the successful global acquisition of an industrial coatings business in 2016, AkzoNobel adopts a new approach in its strategy to grow the paints and coatings business in the East Africa market,” the company said in a statement yesterday.
The AkzoNobel director for Decorative Paints in Sub-Saharan Africa, Mr Johann Smidt, said East Africa is an important part of the company’s Sub-Saharan Africa business for decorative paints, hence the need to expand further.
“It is a dynamic market that has seen many changes in the last few years and is showing potential for growth and innovation. We are currently in the final stages of signing sales, manufacturing and distribution agreement with a local partner which further solidifies our commitment to the region,” he said.
With this agreement, the company also hopes to invest in manufacturing plants which will result in jobs created and will in turn stimulate the economy in East Africa.
According to the company’s director for Performance Coating in Africa, Mr Baron Schreuder, the recent acquisition of an Industrial Coatings has given the company a platform to build its performance coatings business in the East African region.
“This allows us the opportunity to offer essential solutions to our customers,” he said.