Kampala — Paint makers AkzoNobel Decorative Paints the brand owner of Sadolin Paints (U) Ltd has pledged to inject $3million in the company following several months of reports that it had been sold to Japanese firm Kansai Plascon Ltd.
"Sadolin has never changed names or sold in Uganda," said Johann Smidt, the Managing Director for AkzoNobel Decorative Paints in Sub Saharan Africa.
"There was an agreement that was terminated 12 months earlier than the scheduled expiry date," he added.
Smidt also announced Crown Paints East Africa, the makers of Regal Paints in Uganda as their sales and distribution partner.
"We are delighted to re-launch Uganda's number one paint brand and ounce again assure our customers that the brand they love is here to stay," said Smidt during Sadolin's official re-launch at Sheraton Kampala Hotel.
He said the Sadolin Plant in Namanve Industrial Park that will cost around $3million will be the primary site for manufacturing and distribution of Sadolin paint.
Uganda's Trade Minister Michael Werikhe said Uganda is a free market economy that allows investors to compete favorably.
"I'm happy that you have re-launched your brand. Uganda's paint industry is competitive with over 80 paint manufacturers. It is an industry that has the highest concentration and employment for chemists in the country," said Werikhe.
He said the National trade, industrial and cooperative policies together with the Buy Uganda Build Uganda policy will help the company flourish in the sector.
Rakesh Rao the Chief Executive Officer of Crown Paints East Africa, who are the distribution partners, noted that their partnership signals a strong statement on the investment by AkzoNobel and continuity of Sadolin brand in Uganda.