WASHINGTON (dpa-AFX) - PPG (PPG) has extended its joint venture agreement with Asian Paints Ltd. in India for another 15 years, effective from 2026 through 2041.
The renewal enables both companies to continue delivering advanced solutions across industrial, protective, marine, packaging, automotive, and powder coatings segments.
PPG Chairman and CEO Tim Knavish noted the extension underscores the joint venture's success and future potential in India. He emphasized that the longstanding relationship is a key factor in PPG's regional strategy and expressed confidence in continued customer support in the growing market.
The collaboration began in 1997 with a 50-50 joint venture, PPG Asian Paints Private Ltd., focused on automotive, refinish, marine, and consumer packaging. In 2012, a second 50-50 venture, Asian Paints PPG Private Ltd., was created to address protective and powder coatings.
Both ventures will maintain their current management structures, with PPG leading the former and Asian Paints the latter, leveraging their respective global and local strengths.
PPG currently trades at $105 or 0.54% higher on the NYSE.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
