Asian Paints sets up manufacturing plant in Indonesia

India Infoline News Service | Mumbai | September 07, 2017 12:01 IST

Asian Paints informed that PT Asian Paints Indonesia (PT API) has set up a paint manufacturing plant in Jawa Barat region in Indonesia. The plant was inaugurated on September 5, 2017, with a capacity of 5,000 tons per annum on a single shift basis, said the company in a BSE filing on Wednesday.

Asian Paints
Asian Paints informed that PT Asian Paints Indonesia (PT API) has set up a paint manufacturing plant in Jawa Barat region in Indonesia. The plant was inaugurated on September 5, 2017, with a capacity of 5,000 tons per annum on a single shift basis, said the company in a BSE filing on Wednesday.
 
PT API has obtained the necessary licenses and approvals and has commenced manufacturing operations at this manufacturing plant, it added.
 
Earlier, the company had informed that PT API was incorporated in Indonesia as a wholly-owned subsidiary of Berger International Private Limited, Singapore (an indirect subsidiary of the company) and that steps were being taken for setting up a manufacturing plant with a capacity of 24,550 ton in Indonesia subject to necessary regulatory and other approvals.

 Asian Paints was trading at Rs 1,201.30 per share, up by Rs 4.10 or 0.34% as at 1125 hours on Thursday, on the BSE. The stock attracted a traded volume of 2,09,298 shares and traded value of Rs 2,527.25 lakh on the NSE.

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