Knavish says PPG to serve in rapidly growing Indian market
Pittsburgh-headquartered PPG (NYSE: PPG) has extended its joint venture agreement with Asian Paints Ltd to continue serving India’s industrial, protective, marine, packaging, automotive and powder coatings customers with solutions, starting from 2026.
“We are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market,” said Tim Knavish, PPG chairman and CEO. “This decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region http://commerce.gov.in.”
The partnership was established in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd, to service the automotive, refinish, marine and consumer packaging markets. It was expanded in 2012 with the formation of a separate 50-50 joint venture, Asian Paints PPG Private Ltd to service the protective and powder coatings market https://www.bseindia.com/.
Both joint ventures will continue to leverage PPG’s technical expertise and global footprint. PPG will continue to have management control of PPG Asian Paints Private Ltd, and Asian Paints Ltd will have effective management control of Asian Paints PPG Private Ltd to best utilize the companies’ respective strengths .
Asian Paints is India’s leading paint and decor company and ranked among the top eight coatings companies in the world with a consolidated turnover of Rs.33,797 crores (Rs.338 billion) with a market capital of approx. Rs.2,276 billion. Asian Paints, along with its subsidiaries, have operations in 14 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 60 countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Décor products and is the leading player in the Integrated Décor space in India https://www.nseindia.com/.
PPG, having a service of over 140 years, develops and delivers paints, coatings and specialty materials to customers in more than 70 countries and reported net sales of US$15.8 billion in 2024. Fiinews.com
