Asian Paints Ltd.

Asian Paints has approved the setting up of a manufacturing facility for VAE (Vinyl Acetate Ethylene Emulsion) and VAM (Vinyl Acetate Monomer) in India for a proposed investment of approximately Rs 2,100 crore over a period of 3 years. This is subject to entering into definitive agreements including technology license agreement for manufacturing of VAE & VAM and obtaining necessary regulatory and other approvals.

The installed capacity of the said manufacturing facility would be 100,000 tons p.a. for VAM and 150,000 tons p.a. for VAE. The setting up of facility for manufacture of VAM would be based on licensed technology tie up with Kellogg Brown & Root LLC (KBR), USA. KBR is a $7.3 Billion company based at USA and has presence in 80+ countries.

Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.