PPG Industries, a coatings and specialty products company, and Asian Paints, an Indian paint specialist, have received the necessary regulatory approvals to expand their existing 50-50 coatings joint venture (JV) in India and to establish a second JV in the country.
The companies’ current JV, Asian PPG Industries, is based in Mumbai and it will be expanded to serve the transportation, consumer packaging, marine and industrial liquid coatings customers in India. Asian Paints and PPG will create a second coatings JV, which will be named as Asian Paints PPG, to better serve the light industrial, industrial container, industrial powder and protective coatings customers.
Asian Paints will be managing Asian Paints PPG, while PPG will be responsible for effective management of Asian PPG Industries. This strategy helps both the companies’ to effectively use their strengths to take advantage of the growth prospects in the Indian sectors, such as infrastructure development.
Mike Horton, President of PPG Asia Pacific and VP of architectural coatings and automotive refinish, Asia Pacific, stated that Asian Paints’ manufacturing footprint, distribution channels, customer base and local relationships leverage PPG’s technology, position and customer relationships in India. The expansion of their collaboration with Asian Paints will enable both the companies to accelerate growth in nondecorative coatings.
Source: http://www.ppg.com/