28 April 2017 10:53 am Views - 3819
Pic by Waruna Wanniarachchi
By Zahara Zuhair
With the inauguration of its production facility in Koggala with an investment of US $ 5 million this Wednesday, Japan’s Kansai Paints Ltd, entered into the Sri Lankan market, with the expectation of capturing a 50 percent market share of the Rs.25 billion industry.
The facility, which includes state-of-the-art manufacturing capabilities, was established in partnership with Capital Maharaja Organisation Limited, where they expect to produce a range of paints to suit the Sri Lankan environment and standards.
Talking at the event held at the Steins Studios to introduce its paint products, Kansai Paints Lanka (Pvt.) Ltd Director Mohan Bharara said that Kansai was looking for the right partner for a length of time in Sri Lanka and they believe that with the strength they have they will able to capture 50 percent of market share within a short period of time.
“We intend to become a Rs.12-15 billion company. There are not many individual companies in Sri Lanka that are Rs.12-15 billion today. It is a very sizeable market,” he said.
Kansai India Director Sales Anuj Jain said that Kansai products are known for innovation and introducing new technologies. He said it has gross sales over US $ 3.1 billion, having 40 joint ventures, subsidiaries and licensees around the world.
Though it is a cluttered market in Sri Lanka, where already many players are in, Jain said that from the customer’s perspective, it is good for them, as they always get better products and services through the competition.
He said they are looking forward to stand out of the rest by introducing the latest technologies, as they keep on introducing innovative products to suit the health, climate and durability.
“Kansai operates in more than 40 countries. The expenditure is close to 3 percent of the annual turnover on research and development (R&D). In India it’s about one percent of the total spent on R&D. As we go forward, if there are new needs we will cater to it, as the customer always looks for new products. Now we have moved into energy efficiency products and health products. We will keep doing researching,” he said.
“We pick the climate of the country and we develop the particular product accordingly,” he added.
The product, which is the number one brand in Japan and sixth in the globe, includes unique features according to them.
Kansai Japan International Business Head and Executive Committee Member Katsuniko Kato said that considering the tropical nature of Sri Lankan climate, they introduce Mica Marble finish exterior paints, using mica technology of water resistant and marble to retain shine full.
He said that they offer paints with no smell, ultra low VOC and no added led, which means a paint that is safer and healthier too.
Other features include high-definition colour, a feature that is introduced for the first time in Sri Lanka, it was noted. It was noted that their biggest customers globally are Honda, Suzuki, Toyota, as five cars out every 10 cars are painted with Kansai Paints.
Kansai Paints was founded in 1918 in Japan. In the year 1926, Kansai Paints developed its pioneering product – CELVA, the first lacquer-based paint to be developed in Japan.
It has production and distribution facilities in Japan, China, Thailand, India, Taiwan, etc.
In addition, it is available in the North American regions including the United States and Mexico, Europe and the Middle-East.