THE AZAR FAMILY

$520 Million
THE AZAR CHEMICAL GROUP

Wealth: INHERITANCE, PAINTS

Known For: AZAR PAINTS, SHIELD PAINTS

OVERVIEW
Elias Azar, a Lebanese immigrant in Ghana set up Azar Chemical Industries as a family business in 1968. The company initially operated under the name City Paints and traded in building materials and imported paints.
The company began manufacturing paints in Ghana in the 1980s, operating under the name Azar Chemical Industries which later became the Azar Group, comprising City Paints Supply Limited and Synrez Ghana Limited. City Paints deals in paints and related products, while Synrez deals in the production of packaging products.
The company is run by his two grandsons; Ghazi Azar and Rustom Azar. Ghazi Azar is the managing director, and Rustom Azar who passed on in July, 2015 was an executive director.
Azar Chemical Industries Ltd is the manufacturers of Azar Paint and SHIELD Acrylic Paint.

NET WORTH SUMMARY
Azar Group employs over 300 employees.
Azar and Shield paints are leading acrylic paint brands in Ghana; Shield is currently the leading premium quality paint manufacturing company and has about nine different products on the Ghanaian market.
Ghazi Azar serves as the Chairman and Managing Director and part shareholder of the company.
Ghazi Azar co-owns City Paint Supply together with the late Rustom Azar and are the official agents of Hempel Paints in Ghana.
Both Ghazi and the late Rustom Azar own shares in Wire Weaving Industries together with two engineers. Wire Weaving Industries is a producer of drawn wire products and separately employs 100 people.

Visibility Ratings: B

No comments

Powered by Blogger.