Berger Paints India Ltd has entered into an MoU with Chugoku Marine Paints of Japan for “cooperation and collaboration” in the field of marine and related industrial paints.
The plan is to establish a joint venture company.
The MoU also allows for joint efforts in marketing, supply, purchasing marine related industrial paints.
“Subsequently, the parties have a view of establishing a joint venture company as their final objective,” the company said in a notification to the bourses.
According to Abhijit Roy, CEO, Berger Paints, Chugoku and Berger together have considerable strength in technical expertise, product, market knowledge and relevant skills and infrastructure, and these are expected to benefit the “territory’s market requirements”.