NewsVoir
New Delhi/Chennai (Tamil Nadu) [India], December 14: Nippon Paint, the leading paint and coatings company in Asia today announced the 100% 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.
After this acquisition, VIBGYOR Paints and Chemicals Pondicherry, with its established reputation and expertise in supplying high-quality paints to Indian Railways, will 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.
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. We welcome the VIBGYOR team to the Nippon Paint family!''
VIBGYOR Paints and Chemicals Pondicherry, is a growing and significant player in the Indian paint market. The company has a robust track record of supplying paints to Indian Railways and its associated coach, wagon, and allied manufacturing companies. It is reputed for its excellent products and customer service. Vibgyor's manufacturing unit is strategically located in Ranipet, Tamil Nadu and has sufficient production capacity to meet the growing industrial demand. Vibgyor also boasts of making several innovative products that enhance the aesthetic and functional performance of paints for its customers. By becoming a division of Nippon Paint India, Vibgyor will gain access to Nippon Paint's technology, supply chain and marketing capabilities which can further consolidate its position as a leading paint brand in India.
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