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Berger Paints inks agreement with Rock Paint of Japan

06 Jul 2018 Evaluate

Berger Paints India has signed a shareholders’ agreement with Rock Paint of Japan for the purpose of setting up of a Joint Venture (JV) Company in India by the name of ‘Berger Rock Paints’. The Joint Venture Company shall be engaged in developing, producing and selling superior automotive refinish paints in India and Nepal.

Berger will hold 51% and Rock will hold 49% stake of total equity share capital of the proposed JV Company.

Berger Paints India is the second largest paint company in India. It is present in all segments of paint including decorative, automotive, industrial, protective and powder coatings.

Peers
Company Name CMP
Asian Paints 2335.00
Berger Paints India 469.35
Kansai Nerolac Paint 178.10
JSW Dulux 3053.45
Indigo Paints 1017.80
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