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| Berger Paints forays into construction chemicals |
| Press Trust of India / Kolkata Feb 14, 2012, 20:49 IST |
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Paint major Berger Paints India has forayed into the construction chemicals sector and has fixed a sales target of Rs 25 crore in the first year of operation.
The construction chemicals market size is Rs 2,000 crore, which is growing 30-35% annually, Berger Paints Managing Director Subir Bose said today after launching a new range of construction chemicals and new roof paint under its 'Home Shield' banner.
"We expect to reach the sales target of Rs 100 crore in construction chemicals sector in next three years," Bose said.
There are eight to 10 big players in the sector,including some multinationals, Bose said, adding, "We hope to develop this new sector significantly and fulfil our sales target of Rs 25 crore during the first year of operation in 2012-13 which is to turn into Rs 100 crore in next three years".
After the launch in eastern region, the company would release the product in Kerala, Andhra Pradesh and then in Gujarat and Maharashtra, he added.
Turning to the capacity expansion plans of the company, Bose said that a greenfield project had been launched at Hindpur in AP at an investment of Rs 200 crore.
Bose made reference to its two brownfield projects at Rishra in West Bengal and in Goa, besides a small unit at Puducherry.
"Our plan is to double the production capacity from the present 2.5 million tonne by 2013," he said.
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