PPG Industries recently announced plans to expand its 14-year relationship with Asian Paints Ltd. (APL), India’s largest coatings company, to accelerate growth of the companies’ non-decorative coatings businesses in India.
As part of a new agreement, PPG and APL will restructure their existing non-decorative coatings businesses to expand their current 50-50 joint venture, Mumbai-based Asian PPG Industries (APPG), and to create a second 50-50 joint venture. This restructuring is subject to Indian regulatory approvals and is expected to be completed this year.
APPG currently serves Indian transportation coatings markets; this agreement will expand that company’s scope to additionally serve India’s industrial liquid, marine, and consumer packaging markets. The new joint venture will serve the protective, industrial powder, industrial containers and light industrial coatings markets.
“Consistent with PPG’s strategy to accelerate growth in coatings and emerging regions, this expanded relationship with APL will enable PPG to take full advantage of the rapidly developing Indian economy,” said Viktor Sekmakas, senior vice president, industrial coatings, and president, PPG Asia/Pacific.
For additional details, visitwww.ppg.comorwww.asianpaints.com.
PPG to Expand India Joint Venture
January 31, 2011