Berger Paints India Ltd. (BPIL) is planning to enter new product segments in automobile and marine paints through joint ventures with two Japanese companies, a top official said.
The company is also exploring opportunities to set up a facility for making insulation coating for constructing temperature-controlled buildings. This would be through its subsidiary Bolix, S A, Poland.
“We have finalised a JV with Rock Paints, Japan for making auto-refinish products (to be used for repairing damaged cars) and another one with Chugoku Paint, also of Japan, for marine coatings,”said Abhijit Roy, managing director and chief executive officer.
These JVs are likely to be formed before 2017–18. BPIL, which has memoranda of understanding with these companies now, may have a controlling interest in the refinish paint company. “It is a ₹2,000-crore market in India,” said Mr. Roy.
The two products had good growth rates in India and the market was dominated by foreign players.
