Japanese paint and coatings manufacturer, Kansai Paint, has announced plans to further tap into the GCC’s $3.6bn coatings industry by expanding its footprint in the region.
In a statement, the company revealed that it is aiming to open as many as 50 new distribution centres in the coming year across the UAE, Saudi Arabia, and Qatar.
According to Kansai Paint, it has grown to over 1,000 employees in the Middle East, with its key markets in the GCC being Saudi Arabia, which accounts for 35% of its business in the region; followed by the UAE, which accounts for 23%.
The company added that its primary business segments in the region are architecture coatings (68%) and protective coatings (34%).
In Dubai for the company’s annual sales meeting, Hiroshi Ishino, president and representative director of Kansai Paint, commented: “Kansai Paint is seeking to build its position in key strategic markets in the years to come, which includes the Middle East and North Africa (MENA) and the Commonwealth of Independent States (CIS) markets.
“We are committed to investing what is needed in order to achieve that ambition.”
He added: “The Kansai Paint Group aspires to become a truly global company that competes and thrives on the world stage. The MENA and CIS region has tremendous potential, and with our strong presence already in the market, we will work hard to contribute to society by providing products and services that satisfy the high expectations of our customers in the region.”
Ishino’s visit followed the launch of the company’s first design centre in Jeddah. In the UAE, meanwhile, Kansai Paint refurbished its Umm Suqeim Design Centre and has set up a new paint store in Al Ain. The store is part of a pilot phase of the expansion plan that will be implemented in full scale in 2018, across the UAE, Saudi and Qatar.