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Berger Paints India has entered into a shareholders’ agreement to form a joint venture with the Rock Paint Co of Japan. The joint venture, Berger Rock Paints Private Ltd, will look at sale of “superior automotive refinish paints” in India and Nepal.
According to a notification to the bourses, Berger will hold 51 per cent in the JV while Rock Paint will hold the remaining 49 per cent.
Berger, the country’s second largest paint-maker, had in 2017 signed an MoU with Rock Paints to carry out trial sales.
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