《Kenya: Crown Bets On Adhesives to Raise Revenues》：
By Constant Munda
Crown Paints is betting on growth in furniture, automotive, construction and building sectors to drive up demand for adhesives.
The Nairobi Securities Exchange-listed paint maker said the firm is targeting a compounded 10 per cent annual growth in revenues over the next five years by aiming to control half of the adhesives market. Crown did not disclose the market share it holds in the segment currently.
“At the moment, we are laying the foundation with anticipation of growing revenue on adhesives, which will supplement income from the sale of paints. We are becoming more aggressive in the adhesive market,” chief executive Rakesh Rao said last week.
In June, Crown struck a distribution deal with India’s adhesives manufacturer Pidilite Industries for Fevicol brand in the local market.
“We are targeting Sh10 million per month (in sales from the deal) by December 2014,” Rao said.
The firm’s venture into adhesives puts it in direct competition with other distributors such as Henkel.
《Kenya: Crown Bets On Adhesives to Raise Revenues》：
By Constant Munda
Crown Paints is betting on growth in furniture, automotive, construction and building sectors to drive up demand for adhesives.
The Nairobi Securities Exchange-listed paint maker said the firm is targeting a compounded 10 per cent annual growth in revenues over the next five years by aiming to control half of the adhesives market. Crown did not disclose the market share it holds in the segment currently.
“At the moment, we are laying the foundation with anticipation of growing revenue on adhesives, which will supplement income from the sale of paints. We are becoming more aggressive in the adhesive market,” chief executive Rakesh Rao said last week.
In June, Crown struck a distribution deal with India’s adhesives manufacturer Pidilite Industries for Fevicol brand in the local market.
“We are targeting Sh10 million per month (in sales from the deal) by December 2014,” Rao said.
The firm’s venture into adhesives puts it in direct competition with other distributors such as Henkel.