Home / Knowledge / News / Apparel/Garments / K-C Corp to acquire remaining stake of its SA Affiliate

K-C Corp to acquire remaining stake of its SA Affiliate

13
Mar '08
Kimberly-Clark Corporation announced it has reached an agreement to purchase the remaining stake in its South African subsidiary, Kimberly-Clark of South Africa (K-CSA), from The Lion Match Company (Proprietary) Limited, a wholly-owned subsidiary of FASIC Investment Corporation Limited. Kimberly-Clark currently owns slightly more than 50 percent of K-CSA.

The transaction, which is subject to approval by the Competition Commission, is expected to close in the second quarter of 2008.

K-CSA has operated as a joint venture between Kimberly-Clark and Lion Match, or predecessor companies, since 1955. Terms of the purchase were not disclosed.

"Our increased ownership in this successful affiliate bolsters Kimberly-Clark's presence in the country and enhances our growth potential in sub-equatorial Africa," said Tom Davis, president of Kimberly-Clark Middle East, Eastern Europe and Africa.

"We have an excellent leadership team in place and this transaction gives us greater flexibility in how we execute our strategies for this region."

K-CSA is a leading manufacturer and marketer of tissue, personal care and business-to-business products and also markets K-C's line of health care products.

The company holds strong market share positions in premium bath and facial tissues and in diapers and feminine care products. The company markets these products under the brand names Babysoft, Kleenex, Huggies and Kotex respectively.

The company has delivered, in local currency, high single-digit annual sales growth on average since 2000. Headquartered in Bedfordview, K-CSA operates two manufacturing facilities and includes nearly 800 employees.

Kimberly-Clark Corporation


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Rajesh Vohra,

Rajesh Vohra

A part of the Italy based multinational company Artsana Group, Chicco is...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Samant Chauhan, Samant Chauhan

Samant Chauhan
Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search