Asian Paints arm to set up second paint manufacturing facility in UAE

Berger Paints Emirates Ltd Co (L.L.C), UAE, a step-down subsidiary of Asian Paints International Private Limited, Singapore, a wholly owned subsidiary of Asian Paints Ltd, proposes to set up its second paint manufacturing facility in UAE with an investment of AED 140 million (approximately INR 340 crores), having an initial capacity of 55,800 KL per annum. The facility will be spread across 100,000 sqm within Khalifa Economic Zones Abu Dhabi ('KEZAD'), Abu Dhabi, UAE.

Shares of Asian Paints Limited was last trading in BSE at Rs. 2875.05 as compared to the previous close of Rs. 2875.80. The total number of shares traded during the day was 45280 in over 4192 trades.

The stock hit an intraday high of Rs. 2895.95 and intraday low of 2858.30. The net turnover during the day was Rs. 130365466.00.

Source : Equity Bulls

Keywords

AsianPaints INE021A01026 Subsidiary Second PaintManufacturingFacility UAE