Japanese paint manufacturing giant Kansai Plascon says its merger with
Last year, Kansai Plascon partnered with
In an interview with Standardbusiness, Kansai Plascon executive director
He said they would focus on cost reduction, adding new products to the portfolio as well as opening many more stores which have all the product stocks.
"We know we are operating in a very difficult environment, however with the merger with
He said the group was focusing on cost containment as prospective clients were constrained in terms of disposable income due to economic conditions in the country.
"We have to contain our costs to keep our prices as low as possible and in terms of the existing dealership; that we grow our market in the dealership so that we grow our market share," he said.
Mohamed however said
"We are probably the leading paint company in
Mohamed said the group was working towards the acquisition in
Meanwhile Kansai Plascon and Hemistar have made a mandatory offer to acquire shares held by
According to the proposed offer,
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