JOHANNESBURG, South Africa – Paint and coatings manufacturer Kansai Plascon Africa Limited has partnered with Astra management and staff to acquire a 63.25 percent interest in the issued share capital in Astra Industries Limited from the Finance Trust of Zimbabwe (Private) Limited. The deal, worth approximately $5.5 million, will place Kansai Plascon at the head of the coatings market in Zimbabwe.
Astra Paints, Astra’s major subsidiary, is Zimbabwe’s leading paint company. The company’s other operating subsidiary is Astra Chemicals, which markets and distributes a diversified range of chemical products. Astra Paints has two operating factories in Harare and Bulawayo, Zimbabwe.