Asian Paints, an Indian paint manufacturer, has acquired the majority share of Kadisco Chemicals Industry Plc, a subsidiary company of Kadisco Group, operating in Ethiopia.  Asian by virtue of its new deal has got its hands on 51 % of Kadisco’s share.

The deal gives Asian the privilege of taking over the management of Kadisco.  This in return enables Kadisco to have its brands be recognizable in the international market. Further, Dr. Kalifa Abdulekedir, the board chairman of the partnership, denotes that the deal will give Kadisco the capacity to diversify its product lines by adding additional products and also enables the company to break through the global market. He also believes that introducing new products will easily substitute products that are being imported by Ethiopia.

Kadisco has thus far made three expansion projects to raise its productivity capacity; Dr Kalifa told The Reporter He also added that the new deal will take the company to the next level.
Kadisco’s estimated market share in Ethiopia is 25 % while Asian’s products cover 96 percent market share in four different countries; South Africa, United Arab Emirates, Jamaica and Bahrain. Asian operates in 24 different countries and it is the largest paint maker in India.

 Source: Reporter