Financial Daily from THE HINDU group of publications
Tuesday, Jan 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 20, 2004 |
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Corporate
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Outlook ICI Paints upbeat on southern markets Our Bureau
Bangalore , Jan. 19 ICI Paints has focussed its marketing efforts on the southern region, which gives 27 per cent of its total turnover. The region accounts for a growth of 20 per cent in value, which currently is estimated at Rs 165 crore. ICI, which has launched its Dulux Super gloss 5-in-1, a new enamel paint for wood and metal surfaces, the first of its kind in the country, hopes to cash in the fast growth in the real estate in Bangalore. Dulux Super gloss 5-in-1 Enamels has five super benefits such as super glossy finish, super anti-yellowing which keeps the paint looking new, super long life with resistance to cracks and rust and super coverage for extra coverage per litre of paint compared to any other ordinary enamel paint, said Mr K. Rajan, Head (South), ICI Paints. "With a hectic activity in housing sector and a very high growth in home loan disbursement in Bangalore, ICI hopes to gain considerably," he said. Talking to mediapersons after the launch, Mr Rajan said while the entire paint industry has grown at 12 per cent, ICI recorded a growth of 20 per cent this year. The company expects its growth to be at 20 per cent in the southern region this year. "We have also recently commenced exporting to Bangladesh from our Indian plant and waiting for the response before moving further," said Mr Rajan. The Rs 5,000-crore paint industry comprising of both organised and unorganised players, has huge potential for growth, especially in the South with cities like Bangalore, Hyderabad, and Chennai as nerve centres. "The explosive growth in automotive sector combined with overall growth in construction will drive this demand and growth," he added.
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