CIC Paints changes corporate identity
Anjan SAMARASINGHE
|
MD, Akzo Nobel Paints, Gerald De Saram
picture by Sumanachandra Ariyawnsa |
CIC Paint's Lanka has changed their corporate identity to Akzo Nobel
Paints Lanka (Pvt) Ltd.
Speaking to Daily News Business Managing Director / General Manager
Akzo Nobel Paints Lanka (Earlier CIC Paint's) Gerald De Saram said the
Dutch multinational Akzo Nobel NV, the largest coating manufacturer in
the world, acquired Imperial Chemical Industries PLC (ICI) worldwide in
January 2008.
CIC Paints, an associate of Chemical Industries (Colombo) Ltd, was
until the point of the acquisition a part of ICI Paints plc, the global
leader in decorative paints. CIC changed its corporate identity to keep
up with its new associate Akzo Nobel. "We think this is the right time
for us to change our corporate identity. We have gained good reputation
and recognition over the years and this will help us for smooth
transformation from CIC Paints to Nobel Paints Lanka. Even though we
have changed our corporate identity to Akzo Nobel, our brands Duco,
Dulux and Pentalite will not change," he said. "This acquisition enabled
us to source resource, raw materials and technologies from Akzo Nobel.
Akzo Nobel is manufacturing marine coating, powder coating, specialised
coating and coating used for sport equipments.
Akzo Nobel Paints Lanka will also able to introduce these new
products to local market and expand its product portfolio he said.
"At the moment we are manufacturing decorative coating in Sri Lanka.
If there is a demand for other coatings we will make arrangements to
import or manufacture those coatings in Sri Lanka with the assistance of
Akzo Nobel NV," he said.
Talking about the local market De Saram said the current economic
condition has had a negative impact for the paint business. There is a
negative growth in the construction industry too. Comparing with last
year, this year there is a decline in the volumes in the market, since
interest rates are high and dealers in the distribution chains have no
funds to purchase goods from the manufacturers.
He said the company has very good distribution chain covering all
parts of the country. However if North East areas open up these areas
will be very lucrative markets for local paint manufacturers," he said. |
