Welcome Guest to Coatings World    Login || Register
Last Updated Saturday, August 2 2014
Print

ICI to buy Dulux from AECI of South Africa



By Tim Wright



Published July 19, 2007
ICI has reached an agreement to buy the Dulux business from South African corporation AECI for £52 million in cash.

In addition to buying the Dulux assets in South Africa, ICI is acquiring AECI's shares in the Dulux subsidiaries in Botswana, Zambia, Swaziland, Malawi and Namibia. Completion is expected in the second half of 2007, subject to approval by the regulatory authorities.

Dulux is one of the leading decorative paints brands in the growing South African market, where an expanding economy and a rapidly growing construction market have contributed to Dulux Pty.'s continuing sales growth. In the year ended 2006, Dulux Pty. sales grew 19% to £55.3 million, trading profits were £5.0 million (R70 million), net assets were £17.8 million (R249 million) and the business employed 650 people, including 400 in South Africa.

Accelerating profitable growth is one of ICI's strategic objectives, announced in February 2007. As part of this, a key performance indicator for the Group is to grow its revenues in developing markets, which already account for around a third of ICI's sales, at an average of three times the rate of growth of global GDP.


blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Sun Chemical Corporation Performance Pigments
5020 Spring Grove Avenue
Cincinnati, OH, 45232
USA
View Profile
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Buhler Group (Nanotechnology)
13105 12th Ave. North
Plymouth, MN, 55441-4509

View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
Follow Coatings World On