Pittsburgh-based coatings and specialty products company PPG Industries is to make a fresh investment of over US$ 10 million to expand its India business.
The company, which has a 50:50 joint venture (JV) with Asian Paints called AsianPPG, will increase its stake ‘significantly’. Asian PPG, India’s largest coatings company, has a manufacturing plant at Sriperumbudur near Chennai. A major part of PPG’s new planned investment will include setting up an electrocoat production facility. An official announcement to this effect will be made on March 19.The Asian PPG JV supplies to various OEMs in the two- and four-wheeler segments like Honda, GM, Fiat, Bajaj Auto, TVS Motor Co and others.
Secondly, PPG and Asian Paints will start another JV in the second quarter of 2012. This will be controlled by Asian Paints and will focus on the non-automotive clients. The new JV will focus on local industrial paints, protective coatings, bridges, marine coating, and other local market and infrastructure- related applications.