 "AkzoNobel India plans toll manufacturing unit in Bangladesh")
Specialty chemicals and paints major AkzoNobel India is planning to set to up toll manufacturing unit for paints in Bangladesh, says a Business Standard report. For this, the company has roped in Bangladesh distributing conglomerate ACI. Depending on the success of this move, AkzoNobel intends to establish its own unit in the neighbouring country in the next 24-36 months.
Elaborating more on this, J Krishnaswamy, MD, AkzoNobel India, said, “Bangladesh's paints market, with a market size of about Rs 1,500 crore, offers great potential. Once we have around 5% market share then accordingly we would explore the opportunity to have our own unit.”
On domestic plans, Krishnaswamy said that things are looking positive and first priority would be to utilise the existing assets to the maximum. He added, “We have made investments worth Rs 240 crore in the last three years in India. For example, we are utilising 33% of total capacity of Gwalior unit. So we would first look to juice the maximum capacity from the existing units.”
FOR COMPLETE REPORT READ: AkzoNobel India plans to set up manufacturing unit in Bangladesh
Elaborating more on this, J Krishnaswamy, MD, AkzoNobel India, said, “Bangladesh's paints market, with a market size of about Rs 1,500 crore, offers great potential. Once we have around 5% market share then accordingly we would explore the opportunity to have our own unit.”
On domestic plans, Krishnaswamy said that things are looking positive and first priority would be to utilise the existing assets to the maximum. He added, “We have made investments worth Rs 240 crore in the last three years in India. For example, we are utilising 33% of total capacity of Gwalior unit. So we would first look to juice the maximum capacity from the existing units.”
FOR COMPLETE REPORT READ: AkzoNobel India plans to set up manufacturing unit in Bangladesh