Berger expanding operations in Bangladesh
Paints maker Berger is expanding operations in Bangladesh by setting up a plant at the Mirsarai economic zone in Chattogram at an initial investment of around Rs 200 crore.
Berger Paints (Bangladesh) has secured 30 acres of land in favour of the company at the Mirsarai and Feni economic zones, the company has informed its shareholders.
The company is listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange.
The company, according to sources, plans an emulsion and resin plant that will produce water and solvent-based paints.
The company, at present, has plants in Dhaka and Chattogram.
Company sources said the projects undertaken by the Bangladesh government in construction and infrastructure development such as metro rail, highways and flyovers, government housing projects, bridges and power plants are expected to drive demand for paints and construction chemicals.
Though Jenson and Nicholson had started the initial operation in Bangladesh, the name of the company was changed from J&N (Bangladesh) Limited to Berger Paints (Bangladesh) Limited on January 1, 1980.
The company is classified as a fellow subsidiary in the annual report of Berger Paints for 2017-18. J&N Investments (Asia) Limited held 95 per cent stake in the company as on September 30, 2018.
Source: https://www.telegraphindia.com
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