Re Agreement

24 Jun 2009 11:57



PRESS RELEASE

Paints & Chemical Industries "PACHIN" (PACH.CA/PCLDq.L) is glad to announce that its subsidiary "El Obour Paints & Chemical Industries" has reached an agreement with the British company "Imperial Chemical Industries Limited" (trading as ICI Paints Akzo Nobel) to obtain a licence for the following:

Manufacturing decorative products in normal commercial production by ICI at its plants in the United Kingdom using technical information and the trademark "Dulux" which are the property of ICI.

Manufacturing "New" products that are a result of new technology developments by ICI.

Manufacturing other types of decorative paints and woodcare products using ICI technical information and selling it under the trademark "PACHIN"

Sherif Shawki, Chairman & Managing Director of PACHIN, said that this agreement represents a crossroads for the subsidiary which is the largest architectural paints manufacturer in Egypt as its alliance with ICI/Akzo Nobel, the largest paints company in the world, will add a lot to its technical and marketing capabilities. He added that this step is in harmony with the approved strategy of "PACHIN" to launch a new portfolio of products with a high added value targeting consumers of the premium segment who have a high purchasing power, are aesthetically imaginative and seek to enhance their home and work environments. PACHIN predicts that the percentage of this segment of consumers will grow in the coming years; that is why it decided to introduce "Dulux" the strongest global brand in decorative paints to the Egyptian market. 

PACHIN will continue to defend and expand its leading market share in the other segments of the market.