Courtaulds plc, has announced that it has sold the Taubmans architectural and decorative paint business to Plascon Taubmans Pty Limited, a subsidiary of Barlow Limited, a South African industrial company. Barlow is also the parent company of Plascon, the largest paint manufacturer in South Africa.
"The Commission views the sale to Plascon is highly pro-competitive and a major win for consumers as well as retail and trade paint customers," Australian Competition and Consumer Commission Chairman, Professor Allan Fels, said today. "Plascon will ensure the continuation of the Taubmans business, and more importantly the Taubmans brand name, as an independent force in the Australian architectural and decorative paint market.
"The application by Wattyl and Taubmans to the Australian Competition Tribunal in which they were seeking a rehearing of the decision of the Commission to reject an application for authorisation, has not been finally resolved. However, it is expected that the remaining issues will be resolved by the Tribunal in the next few days".
"The Commission views the sale to Plascon is highly pro-competitive and a major win for consumers as well as retail and trade paint customers," Australian Competition and Consumer Commission Chairman, Professor Allan Fels, said today. "Plascon will ensure the continuation of the Taubmans business, and more importantly the Taubmans brand name, as an independent force in the Australian architectural and decorative paint market.
"The application by Wattyl and Taubmans to the Australian Competition Tribunal in which they were seeking a rehearing of the decision of the Commission to reject an application for authorisation, has not been finally resolved. However, it is expected that the remaining issues will be resolved by the Tribunal in the next few days".