Berger Paints to invest Rs 50 crore

Kolkata, JulY 31(UNI) Berger Paints India Ltd will invest Rs 50 crore for setting up 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,'' Mr Bose 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