KOLKATA: The city-headquartered decorative paint player, Berger Paints, has announced its massive expansion plans and is considering Rs 120-130-crore investment in financial year 2011-12 for new products launch and also for capacity expansion.
Mr Srijit Dasgupta, director and chief financial officer of the company, said, “We have embarked on an aggressive plan to expand our capacity and also spread our business in other parts of the country. We plan to invest Rs 120-130 crore this fiscal for this. We will continue to make such investments over the next two-three years.”
The company will also introduce three-four products in the premium segment, but the categories and the time frame of the new launches have not been disclosed by the company.
Out of the over Es 21,000-crore paints market, Berger follows Asian Paints (30%) and Kansai Nerolac (20%), with 19 per cenr market share, while Imperial Chemical Industries (ICI) enjoys 12 per cent share of paints market.