PPG Industries Inc Expands JV With Asian Paints Ltd-Reuters

Reuters reported that PPG Industries Inc has received the necessary approvals from Indian authorities to expand its coatings joint venture by creating a second joint venture with Asian Paints Ltd, India's coatings company. While financial terms were not disclosed PPG and Asian Paints will expand their current 50-50 joint venture to serve India's industrial liquid, marine, consumer packaging and transportation coatings customers. Both joint ventures leverage PPG's global scale, technology and customer relationships with APL's Indian customer base, manufacturing footprint, distribution channels and local relationships, according to Horton. PPG and APL also will form a second 50-50 joint venture, Asian Paints PPG Limited, to serve protective, industrial powder, industrial container and light industrial coatings customers.