Integration of ICI India with the company will be completed by June
CHENNAI: The integration of ICI India with AkzoNobel, the Netherlands-based euro 13 billion paint company, will be completed by June. AkzoNobel plans to double its capacity in the next five years. As part of the expansion plans, it proposes to set up a greenfield project in South India with an investment of Rs. 100 crore.
The Managing Director (Decorative Paints India and South Asia) of ICI India, Amit Jain, said the company had three manufacturing facilities — Thane in Maharastra, Punjab and Hyderabad in Andhra Pradesh — to manufacture decorative paints with a total installed capacity of around 70 million litres annually.
The fourth unit, with latest technology would be set up on 75 acres in the South. “The company has been looking for land both in Tamil Nadu and Karnataka. The new factory would be for the decorative segment,” he added.
Imperial Chemical Industries (ICI) was a British chemical company and had become a subsidiary of AkzoNobel in 2008. Mr. Jain said the company was keen to improve the distribution channels.
It was looking at expanding its point of presence.
Mr. Jain said the company's market share was around 11 per cent of the industry (decorative segment alone) which was estimated at Rs. 10,000 crore.
He said India would be a hub for AkzoNobel, as it would be supplying its paints to the neighbouring countries.
Dulex would be the flagship brand for the company.