Berger Paints inks agreement with Rock Paint of Japan

Berger Paints India Ltd. | Paints | Chemicals & Fertilizers | BSE: 509480 | NSE: BERGEPAINT

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	2444.40
Berger Paints India	452.60
Kansai Nerolac Paint	181.25
JSW Dulux	3136.45
Indigo Paints	1138.15
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