07.07.17
Kolkata, India
www.bergerpaints.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1923
REVENUE: $933 million
(2015: $868 million)
MARKETS SERVED
Decorative coatings; Automotive coatings; Industrial coatings; Powder coatings
KEY EXECUTIVES
Abhijit Roy, managing director and CEO; Srijit Dasgupta, director – finance and CFO; Aniruddha Sen, senior VP and company secretary; Tapan Dhar, vice president, technical director.
Berger Paints India Limited was founded in 1923 and is a leader in the India paint market. The company manufactures and markets a range of decorative and industrial paint products and has operations throughout India with seven manufacturing facilities, more than 135 depots, approximately 3,000 employees and more than 15,000 dealers. Architectural/decorative coatings comprise 83.8 percent of sales, general industrial and automotive comprise 8.6 percent, protective coatings comprises 6.1 percent and and powder is 1.5 percent of sales. Berger’s paint division related to automotive coatings and related ancillaries was transferred to BNB Coatings India Private Limited (now renamed Berger Nippon Paint Automotive Coatings Private Limited), an existing joint venture between Bergen Paints and Nippon Paints Automotive Coatings
Berger Paints Completes Acquisition of Saboo Coatings
Berger Paints India Ltd has completed the acquisition of specialty coatings maker Saboo Coatings Pvt. Ltd. It acquired Saboo Coatings’ shares for $1.12 million, subject to closing adjustments for variations in net debt and working capital.
Following the transaction, which was approved by the Berger Paints board on May 30, Saboo Coatings is a fully-owned subsidiary of Berger Paints. The acquisition of Saboo Coatings, which makes specialty liquid coatings used in farm and construction equipment, automobiles, fans, electronics, elevators, handicrafts and home furnishing, will boost Berger Paints’ industrial coatings business.
Berger Paints’ board also approved the acquisition of a 51 percent stake in Saboo-Hesse Wood Coatings Pvt. Ltd, which sells acrylic wooden coating. The balance 49 percent in the subsidiary is held by Hesse Shares GmbH of Germany.
www.bergerpaints.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1923
REVENUE: $933 million
(2015: $868 million)
MARKETS SERVED
Decorative coatings; Automotive coatings; Industrial coatings; Powder coatings
KEY EXECUTIVES
Abhijit Roy, managing director and CEO; Srijit Dasgupta, director – finance and CFO; Aniruddha Sen, senior VP and company secretary; Tapan Dhar, vice president, technical director.
Berger Paints India Limited was founded in 1923 and is a leader in the India paint market. The company manufactures and markets a range of decorative and industrial paint products and has operations throughout India with seven manufacturing facilities, more than 135 depots, approximately 3,000 employees and more than 15,000 dealers. Architectural/decorative coatings comprise 83.8 percent of sales, general industrial and automotive comprise 8.6 percent, protective coatings comprises 6.1 percent and and powder is 1.5 percent of sales. Berger’s paint division related to automotive coatings and related ancillaries was transferred to BNB Coatings India Private Limited (now renamed Berger Nippon Paint Automotive Coatings Private Limited), an existing joint venture between Bergen Paints and Nippon Paints Automotive Coatings
Berger Paints Completes Acquisition of Saboo Coatings
Berger Paints India Ltd has completed the acquisition of specialty coatings maker Saboo Coatings Pvt. Ltd. It acquired Saboo Coatings’ shares for $1.12 million, subject to closing adjustments for variations in net debt and working capital.
Following the transaction, which was approved by the Berger Paints board on May 30, Saboo Coatings is a fully-owned subsidiary of Berger Paints. The acquisition of Saboo Coatings, which makes specialty liquid coatings used in farm and construction equipment, automobiles, fans, electronics, elevators, handicrafts and home furnishing, will boost Berger Paints’ industrial coatings business.
Berger Paints’ board also approved the acquisition of a 51 percent stake in Saboo-Hesse Wood Coatings Pvt. Ltd, which sells acrylic wooden coating. The balance 49 percent in the subsidiary is held by Hesse Shares GmbH of Germany.
