Berger Paints plans to diversify into home decor, adhesives, construction

The market reacted negatively to the news with a decline of 0.5% a share

City-based paints company Berger Paints is planning to diversify into the home decor business.

In a notice to shareholders, the company said it was considering business opportunities available in various areas relating to home decor, the construction industry and adhesives, and will leverage its manufacturing and marketing strength.

Berger will be seeking shareholders' nod to pave its way into new businesses.

The enabling resolution will contain the entire gamut of products covering almost all products used in home decor.

Company officials did not respond to calls and messages on the issue.

Berger Paints makes industrial paints and consumer products like metal and wood paints, interior wall coatings, exterior wall coatings and clear coats for wood.

The market reacted negatively to the news with a decline of 0.5 per cent to Rs 249.70 a share from the previous closing in BSE.