Industry News

Asian Paints Made No Bid for Israeli Paint Company Tambour Limited

Published on 2004-06-25. Author : SpecialChem

Mumbai, June 25, 2004??Following recent reports in the press, Asian Paints, India?s largest paint manufacturer wishes to clarify that it has no interest in the Israel Paint Company, Tambour Limited and has not submitted any bid for that company.

As part of its growth strategy for international operations, Asian Paints would focus on emerging markets and would also look to consolidate its presence in existing operating countries. All opportunities available will be considered that are in alignment with this strategic fit.

Asian Paints is Asia?s fourth largest paint company and India's largest paint company. It is ranked among the top 10 Decorative Coatings Companies in the World with a group turnover of around US$ 513 million. Asian Paints along with its various subsidiaries has operations in 23 countries across the world and is the market leader in ten countries. Asian Paints has manufacturing facilities in all these countries viz. India, Australia, Bangladesh, Egypt, Fiji, Mauritius, Nepal, Oman, Sri Lanka, Solomon Islands, Tonga, Vanuatu, Samoa Islands, China, Bahrain, Barbados, Dubai, Jamaica, Malaysia, Myanmar, Singapore, Thailand and Trinidad & Tobago.

Source: Asian Paints

(Editor?s Note: PaintandCoatings.com did not run the original salvo of wire stories regarding this supposed transaction because the information was not confirmed correct.-MD)

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