Indian business mission
Published: 10 March, 2010
Indian business mission
Speaking at an official Indo-UK business seminar in Southern India recently, Patricia Hewitt MP, former cabinet minister and chair of the UK-India Business Council, said that the joint venture company forged between Manchester-based HMG Paints and Titan Paints & Chemicals of Coimbatore was an ideal example of how commercial partnerships can be fostered between the two countries.
Jointly organised by UK Trade & Investment and the Confederation of Indian Industry, the 'Partners in Action' seminar explored opportunities for partnering with the local business community, in order to expand overseas operations, and presented case studies of UK firms already doing business in India. The British Deputy High Commissioner in Southern India, Mike Nithavrianakis, led the seminar and a senior member of the Indian parliament, Poongothai Aladi Aruna, delivered a keynote address.
Two board members of Titan HMG Paints India Limited, Ravi Sam and John Fenton, used the occasion to announce that the JV will increase its production capacity three-fold over the next three years. It is also in the process of widening its product range to cover paint market sectors like marine finishes and specialist coatings.
"At present, the company has a production capacity of 100,000 litres per month,” said Managing Director, Ravi Sam. “We shall be investing Rs 12 crore (£1.6m) in the next two years, to increase capacity three times by 2012. Our sales target is to touch Rs 100 crore (£13.4m) over the next five years.”
Fellow board member, John Fenton, who was among a number of senior representatives from HMG Paints attending the event, added: “We shall soon appoint dealers all over South India and the nation"s leading industrial state of Maharashtra, in order to expand distribution and increase our customer base. India is a huge market and it is also a good stepping stone for supplying other countries, such as China, Malaysia and Thailand.”
Formed last year, Titan HMG Paints India is a JV enterprise between long-established surface coatings manufacturer HMG Paints, which this year celebrates its 80th anniversary, and a flagship company of the renowned LMW Group, Titan Paints & Chemicals, which itself dates back to 1947. Based in Coimbatore, one of the fastest growing cities in India and a favoured city for inward investment, the newly-formed company produces a wide range of industrial coatings, for protecting plant, machinery and other structures from abrasion, corrosion, weathering and chemical attack.
For further information please visit: www.hmgpaint.com
