 "Berger and Nippon Paint to strengthen their JV BNB Coatings")
Berger Paints India Ltd and Nippon Paint Automotive Coating (NPAU) on November 24, 2015 agreed to further strengthen the capability of their joint venture, BNB Coatings India Pvt Ltd, by transferring some part of their businesses to the JV. Berger will transfer three wheeler & four wheeler (passenger cars and SUV) paint business to BNB, while Nippon Paints India will transfer four wheeler (other than commercial vehicles, auto parts and ancillaries) paint business.
“The transferred businesses may include transfer of electro coat business also. The understanding is subject to the parties entering into definitive agreements as regards values and other terms and conditions, after due diligence,” said Berger Paints in a press release.
BNB Coatings India, in which Nippon Paint holds 51 percent stake and Berger holds 49 percent, is mainly engaged in the business of coatings for plastic substrate of automobiles.
“The transferred businesses may include transfer of electro coat business also. The understanding is subject to the parties entering into definitive agreements as regards values and other terms and conditions, after due diligence,” said Berger Paints in a press release.
BNB Coatings India, in which Nippon Paint holds 51 percent stake and Berger holds 49 percent, is mainly engaged in the business of coatings for plastic substrate of automobiles.
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