PITTSBURGH – PPG Industries has received the necessary approvals from Indian authorities to expand its coatings joint venture and also to create a second joint venture with Asian Paints Ltd. (APL), India’s largest coatings company. Financial terms were not disclosed.
PPG and APL will expand their current 50-50 joint venture, Mumbai-based Asian PPG Industries, to now serve India’s industrial liquid, marine, consumer packaging and transportation coatings customers. 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.