Published on February 23, 2015
Asian Paints, India’s leading paint manufacturer, has completed its deal to acquire 51% stake in the Ethiopia-based Kadisco Paint and Adhesive Industry for USD18.95 million. Kadisco, one of the leading paint companies in Ethiopia, is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia. Indian firm had acquired the stake in Kadisco Paint through its indirect subsidiary Berger International Limited (BIL), Singapore.
Recent research report said that technological development in solvent borne and powder coatings are expected to play a crucial role in promoting industrial coatings market growth in upcoming time. The Indian Paints & Coatings industry is valued at USD 3.5 billion in terms of value and 2 million metric tons by volume. The industry is expected to continue to exhibit double-digit growth till this fiscal 2015.
Market experts believe that the Indian paint industry is escalating with a very fast velocity. In near term, many new projects are coming in line which will augment the demand outlook of the paint industry in both domestic and industrial segments. To earn the maximum margin, manufacturers and market players have to work hard and effective research for innovative products, will give the positive result and fine profitability to the industry.
