Berger Paints to invest Rs. 50 crore

By Staff
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Google Oneindia News

Kolkata, Jul 31(UNI) Berger Paints India Ltd. will invest Rs. 50 crore for setting up of an automotive paint plant in Pune to increase the production capacity by 200 kilo litres per month, Managing Director Subir Bose today said.

"We will invest Rs. 50 crore for the plant with a monthly production capacity of 800 kilo litres. It will be operational in a year's time," he said on the sidelines of the company's 83rd annual general meeting.

The company's current automotive paint production capacity is 600 kilo litres per month that contributes 24 per cent to the total sales.

In reply to a question, Mr. Bose ruled out the possibility of any price increase in near future and said the input costs were expected to remain stable in the next quarter.

The MD said Berger Paints was looking for acquisition in India and abroad though nothing has been decided as yet.

UNI

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