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PPG Industries has received the necessary approvals from Indian authorities to expand its coatings joint venture (JV) and also to create a second JV with Asian Paints Ltd (APL), India’s largest coatings company. Financial terms were not disclosed.
PPG and APL will expand their current 50:50 JV, Mumbai-based Asian PPG Industries, to now serve India’s industrial liquid, marine, consumer packaging and transportation coatings customers. PPG and APL will also form a second 50:50 JV, Asian Paints PPG Limited, to serve protective, industrial powder, industrial container and light industrial coatings customers. PPG will have effective management control of Asian PPG Industries and APL will have effective management control of Asian Paints PPG Limited.
