Website Homepage Founded 1961 | Headquarters Nairobi Type Public company | |
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Key people J M WanjigiChairmanR A ShepherdExecutive Director Products Compressed CO2, Medical CO2, Dry Ice, Cylinder Testing & Validation Revenue Aftertax: KES: 475.54 million (US$5.44 million) (2013) Total assets KES:2.205 billion (US$25.22 million) (2013) | ||
Carbacid Investments Limited (CIL), is a manufacturing and investment company in Kenya, the largest economy in the East African Community. The company manufactures and markets carbon dioxide gas for industrial and medical use as well as dry ice. It also tests and validates gas cylinders. Carbacid is a monopoly and currently has a market share of more than 95% in the regional carbon dioxide market. The shares of the company's stock are listed on the Nairobi Securities Exchange (NSE), where they trade under the symbol CARB.
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Overview
The company is the largest manufacturer of medical and industrial CO2 in the region. In the financial that ended 31 July 2013, the company turnover was valued at KSh:952,836,000 (approx. US$10,896,300). Net profits were at KSh:475,541,000 (approx. US$5,438,140). The company's total assets were valued at KSh:2,204,399,000 (approx. US$25,208,800), with shareholders' equity of KSh:1,924,429,000 (approx. US$22,007,200).
History
Carbacid Investments traces its roots to BEA Sawmills Limited, a company that was first to extract carbon dioxide from a natural underground reservoir in Kereita Forest in Kenya in 1933. Carbacid was officially incorporated in 1961 and listed at the NSE in 1972 following a series of acquisitions.
In December 2005, BOC Kenya Limited gave a notice to the shareholders of its intention to acquire full control of Carbacid Investments making it its wholly owned subsidiary. However, BOC Kenya did not receive the acceptance threshold from Carbacid shareholders. This led to a dispute between BOC Kenya and the Capital Markets Authority. Both the BOC Kenya and Carbacid stocks remained suspended from trading on the NSE until 2009 when take over offer had lapsed.
Operations
Carbacid Investments is mainly involved in the mining, purification and distribution of carbon dioxide gas to soft drink manufacturers and to beer bottlers. The company also makes medical CO2 for use in hospitals and other medical facilities and laboratories including universities. Other products manufactured by Carbacid include dry ice, which is used in the preservation of cold temperatures when shipping sensitive biological and chemical material. Carbacid's distribution network extends across the whole of East Africa, serving customers in Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, Eastern DRC, Zambia, South Sudan and Somalia.
Member companies
The companies that comprise the Carbacid Investments Limited include, but are not limited, to the following Kenya registered subsidiaries:
- Carbacid (CO2) Limited – The flagship company of the group. Its principal activities involve the mining, purification and sale of carbon dioxide gas. This company is a 100% subsidiary of Carbacid Investments Limited.
- Goodison Twenty Nine Limited – An investment company, wholly owned by Carbacid Investments Limited.
- Goodison Forty Seven Limited – An investment company, wholly owned by Carbacid Investments Limited.
Ownership
The shares of the Carbacid Investments Limited are listed on the NSE, where they trade under the symbol CARB. As of July 2013 the shareholding of Carbacid Investments was as follows: