Berger Paints (Bangladesh) launched construction work of a new plant at its Mirsarai conomic zones at a cost of Tk 350 crore, the company officials said.
Earlier, last year the company, secured 30 acres of land to the special economic zone to set up two world class factory- one for its naval plant and another for emulsion and resin plant.
Berger Paints last year signed an agreement with Japan’s Chugoku for marine coatings.
Following the agreement the two companies will cooperate in the field of marine and related industrial paints in Bangladesh.
“BPBL is the leading paint manufacturer in Decorative, Industrial & Marine segment and this alliance will take the quality and convenience of availability of world class marine paints into the next level, the company claimed,” the BPBL officials said Business Mirror said.
At the plant it will set an emulsion and resin plant that will produce water and solvent-based paints
Meanwhile, in 2018 the BPBL has tied up with UK-based construction solutions provider Fosroc International to set up a joint venture company that would produce construction chemicals.
Both the companies will hold equal stakes in the entity, Berger Fosroc Ltd, which will be built at an estimated cost of Tk 60 crore.
The BPBL is one of the oldest names in the paint industry, is a publicly listed company. Per share of Berger was close at Tk 1412 in Dhaka Stock Exchange yesterday (Thursday).
The name of the company was changed from J& N (Bangladesh) Limited to Berger Paints Bangladesh Limited on 1st January 1980. In August 2000, J& N investment (Asia) Ltd purchased Government shareholding. Now, Berger Paints Bangladesh Limited is 100% owned by J& N Investment (Asia) Limited, UK.
Berger Paints is one of the oldest names in the paint industry, yet, it is one of the most technologically progressive companies in the country. It is constantly determined towards revolutionizing superior quality products and services with a steadfast track record of being one of the fastest developing paint companies in the country.
In Bangladesh, the annual consumption of paints currently stands at about 180,000 tonnes. The sector recorded an over 6 percent year-on-year growth in recent times thanks to the rapid urbanisation in a country of around 167.8 million people, told Rupali Chowdhury in an interview recently
The Tk 3,700 crore industry in Bangladesh remains highly competitive with the presence of over 45 operational entities. In 2017 alone, the industry contributed over Tk 550 crore to the national exchequer in the form of taxes, she added.