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Berger Paints, Chugoku Partner on Marine

Tuesday, April 18, 2017

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Putting into action its plan to expand its presence in the Indian marine paints market, Chugoku Marine Paints of Japan has announced  that it has entered into a memorandum of understanding with Berger Paints India Ltd. for cooperation and collaboration in the field of marine and related industrial paints in India.

By forging the MoU, announced last Tuesday (April 11), the firms will combine efforts in marketing, supplying and purchasing marine-related industrial paints. If all goes well, Berger Paints said in a press release that the possibility exists for it and Chugoku to establish a joint-venture company.

Chugoku marine coating
Chugoku

Japanese marine coatings firm Chugoku will work with Berger Paints, of India, on supplying marine and related industrial paints in India.

“Chugoku looks forward to the partners jointly becoming leading players in marine coatings in India and the neighboring region,” said Masataka Uetake, president and CEO of Chugoku.

Abhijit Roy, the CEO of Berger Paints, noted, “Chugoku and Berger together have considerable strength in technical expertise, product, market knowledge and relevant skills and infrastructure and these are expected to considerably benefit the territory’s market requirements.”

Similar Strengths, Goals

Berger Paints, which is the second-largest maker of decorative paints in India, has 10 manufacturing plants across the country. Its decorative paints division accounts for 80 percent of its revenue, and its protective paints share is India’s biggest.

The company also manufactures automotive, protective and powder coatings; varnishes; and wallpaper. While most of its sales strength is in India, Berger also does business via wholly owned subsidiaries in Nepal, Bangladesh, Poland, Cyprus and Russia. It had revenue of about $690 million in 2016.

Chugoku, which is celebrating its 100th year in business, produces coatings for multiple purposes, such as marine (yachts and boats); containers; protective applications (bridges and other steel structures); and industrial (paints for building materials and wood flooring). It had revenue of slightly more than $1 billion and profits of $335 million in 2016.

   

Tagged categories: Asia Pacific; Berger Paints; Business matters; Coating Business; Coating Materials; Coatings manufacturers; Marine Coatings

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