Barloworld acquires Midas Paints of South Africa.Barloworld Barloworld (UCI Team Code: BAR) are a UCI Professional Continental cycling team. Although based in the United Kingdom they are considered South African[1]. They participate in UCI Continental Circuits races and, when selected, to UCI ProTour events. has acquired Midas Paints Limited for approximately $6.3 million. The company sells Earthcote, a premium range of wall coatings through 34 franchised stores in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Midas will be run as a separate entity within Barloworld Coatings and existing management and staff will be retained, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. company officials. "The Earthcote business, with its high-end high-end adj. Informal 1. Appealing to sophisticated and discerning customers: a high-end department store; high-end video equipment. 2. brand and franchised concept stores will fit well with our Plascon branded offerings. It will form part of our strategy to provide consumers of premium quality wall coatings with a fully integrated lifestyle offering," said Andre Lamprecht, executive director and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Barloworld Coatings. In addition, Barloworld will look to the company's Midas brand to expand its contractor business. "We believe it has enormous potential to expand into the rest of the country. It could form a powerful platform for our further expansion into the contractor arena," Lamprecht added. |
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