SigmaKalon has acquired the South-African company Neutron Paints with its headquarter in Cape Town and a manufacturing facility in the region of Cape Town. It has 60 employees. The company manufactures and sells high performance, architectural decorative coatings mainly in the region of Western Cape, Eastern Cape and Northern Cape.
The business will be integrated in one of the SigmaKalon South African operations—Prominent Paints Pty (Ltd). Prominent Paints Pty (Ltd) is located in Alrode, Johannesburg. It currently ranks third in the South African decorative paints arena with an 8.5% market share in value at national level.
"We are particularly looking to increase our footprint within the Western Cape Region," said Yvon Porhel, Prominent Paints managing director. "This region accounts for 16% of the national paint market and gaining a loyal customer base within this province is key to our national strategy of growing our distribution network. The acquisition of Neutron Paints will allow us to meet this goal."
"This is an excellent opportunity to consolidate our presence in the promising market of South Africa," said Stéphane Beaucourt, board member of SigmaKalon Group with responsibility for decorative coatings in this part of the world.
SigmaKalon acquires a market leader in South Africa
By Tim Wright
Published January 7, 2008
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