Shalimar Paints eyes expansion in South India

Kolkata, Sept 21 (UNI) Shalimar Paints Ltd today said it was looking at expansion opportunities in South India.

The expansion could be either through greenfield projects or acquisitions, promoter director Girish Jhunjhunwala told reporters after the annual general meeting here today.

Mr Jhunjhunwala said the company was looking at plants which could manufacture at least 100 kltr of paint.

Indicating that the company had initiated talks with some south -based companies, the promoter director said a formal decision would be taken in a year's time.

The company had also initiated talks with some foreign companies for technology tie-ups.

Shalimar was looking at an alliance so that the foreign company's products could be manufactured in its plants in India, he added.

UNI TJP SJC DB1705