Industry News

SigmaKalon acquires a majority stake in Surinamese Market leader

Published on 2007-05-07. Author : SpecialChem

SigmaKalon is very pleased to announce the acquisition of a controlling interest in Varossieau - the market leader in decorative coatings in Surinam.

Through this transaction, SigmaKalon will own a 51% stake in Varossieau. The remainder of the shares will be in the hands of a number of Surinamese investors.

Varossieau was established in 1959. Today it has 56 employees. The company owns a manufacturing facility and 3 shops in Paramaribo. It sells decorative coatings, under the brand Historex. Varossieau is the market leader in Surinam with 63% market share. In 2006, its sales were 5.1 million euros.

Through this transaction, Varossieau will benefit from SigmaKalon’s strategic and financial support, with access to the most up to date products and formulations developed for use across the SigmaKalon Group. Similarly SigmaKalon will benefit from the excellent local market expertise of the Varossieau team and the strong local brand.

Ken Partington, Board Member of SigmaKalon Group with responsibility for decorative coatings in this part of the world said “This is an excellent opportunity to improve our access to the promising market of the Caribbean community and to consolidate our presence in neighbouring geographies where SigmaKalon already operates successfully”.

SigmaKalon, a worldwide player in decorative, marine, protective and industrial coatings, employs around 10,000 people in 40 countries, with a focus on Europe, Asia and Africa. In 2006, SigmaKalon recorded sales of more than 1.9 billion Euros.

Source: SigmaKalon

The Chemicals Sales & Marketing Toolbox
Channel Alerts

Receive weekly digests on hot topics

Back to Top