On A Date with On a Date with Art Corporation
#1. History
1859, Gaston Plande develops the framework for lead acid batteries
1888, W.W Gibbs sees the potential of storage batteries and sets up Electric Storage Battery Company (ESB)
1900, ESB develops a battery with greater capacity and less weight.
The battery is used for the electric taxicabs and the battery name is Exide, short for “Excellent Oxide”.
1963, Battery Makers of Zambia is incorporated later changing name to Chloride Zambia.
1972, Eversharp starts operations in Zimbabwe then Rhodesia
1997, Beachmont Trading is incorporated in British Virgin Islands
Kadoma Tissue Mill and Chloride Zimbabwe acquired. Exide brand which was first introduced in Zimbabwe 35 years before is reintroduced.
2000, Eversharp formerly owned by Randall Holdings is acquired by Trans Zambezi Industries (TZI).
2001, Beachmont Trading changes its name to ART and is de-merged from TZI.
2002, ART is listed on the ZSE with key assets in paper mills, Eversharp and Exide.
#2. Operations,
ART is in the business of manufacturing and retailing of,
- Writing Instruments
- Commercial & Scholastic stationery
- Tissue
- Hygiene products
- Automotive batteries
- Solar batteries
- Motive & standby batteries
Batteries Unit
1. Chloride Zimbabwe
A specialist in the manufacturing of lead acid batteries.
2. Chloride Zambia
A distributor of automative batteries in Zambia.
3. Exide Express
Retail and distribution arm of Chloride Zimbabwe.
Paper Unit
1. Kadoma Paper Mills
Operates a tissue manufacturing plant which uses 100% recycled waste paper to make tissue
2. National Waste Collection (NWC)
It’s a paper recovery unit which was set up to ensure the mill gets waste paper.
Stationery Unit
1. Eversharp
A leading manufacturer of ball pens, markers, rulers, exercise books, counter books and covers.
Personal Hygiene unit
1. Softex Tissue Products
A leading manufacturer of economical tissue paper.
Wholly owned by ART after Nampak disposed its 50% for a monetary consideration.
Owns a number of tissue brands. Expanded its product range to dishwashers.
#3. Competitors,
1. First National Battery from South Africa which owns the Raylite brand and sells +2 million batteries.
2. Chloride Exide Botswana which owns the Taurus brand which is marketed in Zimbabwe by dealers
3. Power Technologies which owns the Willard
4. Celeste Tissue Products
5. Lulu Tissue Products
6. Unilever
7. Nemchem
#4. Shareholding,
2013, Taesung Chemical Company a South Korean bought a majority stake in ART Corporation.
ART is a subsidiary of the Korean entity through its investment vehicles Cranbal, Silvermine and Zadmab.
67,53% controlled by Taesung.
#5. Pitch,
A diversified portfolio of products that are used by different consumer classes.
Market leadership in the automotive batteries and standby Industrial batteries.
Command strong brand position in the economic tissue market.
Export earnings from batteries easing pressure on access to foreign currency for raw materials.
Foreign shareholder.
6. ZSE Trading Statistics
ZWL 11.12 per share as at 22nd of February.
ZWL 10.45 per share at the start of the year.
+6.4% year to date performance, 674% year on year return.
ZWL4,859,188,232 market cap (cUS$21m at Alternative Market Exchange rate)
Each week will be on a DATE with a company listed on the ZSE with Martin Mataga Twitter @MartinMataga.
The purpose of this thread is to assist investors to have a minimum appreciation of listed firms.
Disclaimer: Do not misconstrue this thread as investment advice. DATE companies before you buy their shares.
