Berger, ICI form JV

KOLKATA, JULY 14. Paint majors Berger Paints and ICI have formed a 50:50 joint venture to manufacture auto and industrial coatings at Rishra in West Bengal. Official sources said the joint venture company, Berger Auto & Industrial Coatings Limited, had been formed after taking over the entire motor and industrial business of ICI's factory at Rishra.

In May this year, Berger took over the business from ICI, which would be responsible for providing infrastructure support to the joint venture company, the sources said. However, all administrative and policy decisions would be taken by Berger, they said. With this strategic alliance, Berger would be able to gain a foothold in this segment of the business, which is growing at a fair pace, they added. Meanwhile, Berger had also entered into a technical licence agreement with Nippon Paint Company of Japan to develop and market new generation automotive coatings.

Berger had also signed a similar technical licensing agreement with Orica Australia pty in the area of protective coatings, the sources said.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : GMI to raise investment, introduce new models
Next     : Forex reserves up $141 m