NEW DELHI, DEC 14  :   Paint and coatings company Nippon Paint India on Thursday announced acquisition of VIBGYOR Paints and Chemicals Pondicherry, a major supplier of paints and coatings in South India.
“Through the strategic acquisition, Nippon Paint will gain a strong foothold in the growing industrial coatings portfolio especially focusing on Indian Railways,” a media statement said.
Following the acquisition, VIBGYOR Paints and Chemicals Pondicherry would become a division of Nippon Paint India, leveraging its resources and reach to further its growth and market leadership.
“As part of the acquisition, the key members of the VIBGYOR team will join Nippon Paint as employees, ensuring a seamless transition and the retention of valuable industry expertise within the Nippon Paint India family,” the statement said.
Commenting on the acquisition, Sharad Malhotra, Director and President (Automotive Refinishes), Nippon Paint India said, “The acquisition of VIBGYOR Paints and Chemicals marks a step forward in our India growth strategy. Besides helping us gain a strong foothold in the Indian Railways, this acquisition also enables us to expand our commercial vehicles and industrial paints business in the country.”(UNI)