Hempel plans Rs. 100cr paint making plant

Mumbai : Hempel plans Rs. 100cr paint making plant Hempel, which is a Denmark based global paint maker for marine and protective coatings, is all set to start a manufacturing facility in India at an initial investment of Rs. 100cr. The company is currently scouting for land in Maharashtra to build its green field manufacturing unit very shortly. The mega paint manufacturer, which currently operates in over 80 countries across the world with 23 manufacturing units, has recently acquired the UK-based Crown Paints Company, which makes decorative paints of about $300 million and recorded revenues worth 889 million Pound and has clocked a net profit of 53 million Pound.

Disclosing this, Director, Hempel South Asia, Umesh Singh, said that the plant would be set up in Maharashtra. The player already has a large share of the global market in segments including wind turbines, cranes and infrastructure sector and India is all set for a huge growth in these areas. The company is keen to supply the protective and marine coatings to the growing markets for these segments in South Asia and is targeting to take its turnover to 18 million Pound in the next couple of years. The protective paint marine market in India is worth about Rs. 1,250cr and Hampel is keen to grab 15 percent share in the next five years. It has inaugurated a small manufacturing and research development unit at Nashik in Maharashtra recently and its product will focus on the domestic market only, he claimed.