07/23/2012 | Editor: Dominik Stephan
American PPG Industries and Asian Paints (APL) of India recently received an approval from the Indian authorities to expand their coatings joint venture (JV) in India. Now the two companies plan to market protective paints, powders and coatings for Indian industrial liquid, marine, consumer packaging and transportation customers.
Mumbai/India – The recently granted approval will also allow PPG and APL to form a second 50/50 joint venture named Asian Paints PPG. Mike Horton, president of PPG Asia Pacific, said: "The expansion of PPG's more than 15 year successful relationship with Asian Paints will position both companies for accelerated growth in non-decorative coatings to take advantage of the long-term growth of the Indian economy."
The joint venture will enhance PPG's global scale, technology and customer relationships with APL's Indian customer base, manufacturing footprint, distribution channels and local relationships, Horton added. PPG will have management control of Asian PPG Industries while APL will have management control of Asian Paints PPG.
Currently, Inda's chemical industry still alrgely depends on imports – more in our current market report.
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