PUBLIC COMPANY
YEAR ESTABLISHED: 1942
REVENUE: $1.9 billion ; (2009: 1.1)
MARKETS SERVED
• Architectural coatings
• Industrial coatings
• Automotive coatings
Asian Paints is India’s largest paint company and ranked among the top ten decorative coatings companies in the world with sales of $1.9 billion in 2010. Sales came largely
from the company’s architectural and decorative operations ( 90 percent) while its automotive and industrial coatings sales ( 10 percent)
made up the remaining.
Asian Paints operates 24 manufacturing facilities across the
globe. The largest share is in South Asia where the firm runs 12
plants spread throughout India, Sri Lanka, Nepal and Bangladesh.
There are five plants in the Middle East in Egypt, Oman, Bahrain
and Dubai. One facility is operated in South East Asia in Singapore.
In the South Pacific islands of Fiji, Vanuatu and Samoa, Asian Paints
runs three plants. Lastly, in the Caribbean, Jamaica, Barbados, and
Trinidad and Tobago each are home to a facility.
Subsidiaries include Berger International, SCIB Paints – Egypt,
Asian Paints, Apco Coatings and Taubmans.
Asian Paints Limited
Mumbai, India
www.asianpaints.com
KEY EXECUTIVES
PM Murty, CEO; KBS Anand, president, architectural, India; vice president,
industrial, India; Jalaj Dani, president, international operations.
During the year, Asian Paints began the process of forming a
second 50: 50 joint venture with PPG, which will focus on protective coatings, light industrial coatings, industrial container
coatings and powder coatings in the Indian market. This joint
venture will leverage the market presence and access of Asian
Paints in the domestic market with the global scale and technology of PPG. Asian Paints will have effective management control of this JV.
Asian PPG Industries Limited (APPG), the existing 50: 50 JV
with PPG in the area of transportation coatings which was formed
in 1997 will now additionally cover marine coatings, consumer
packaging coatings and other liquid industrial coatings segments.
PPG will have effective management control of this JV.
Also during the year, Asian Paints said it is investing approximately $22 million to set up a new paint plant in Khandala, Maharashtra, India.
The Comex Group
Mexico City, Mexico
www.thecomexgroup.com
14
PUBLIC COMPANY
YEAR ESTABLISHED: 1959
REVENUE: $1.6 billion ; (2009: 1.3)
MARKETS SERVED
• Architectural coatings
• Industrial coatings
• Automotive refinish coatings
• OEM (non-automotive)
KEY EXECUTIVES
Marcos Achar, CEO, Comex Group; Leon Cohen, president, Comex Mexico; Marcos Achar Meyohas, vice president treasurer; Elias Achar, vice president operations; Kent Child, president, U. S. and Canada.
Comex Group is the largest paint company in Mexico and with its combined U.S. acquisitions its revenue is approximately $1.6 billion. Roughly 75 percent of sales came from the architectural
segment, 15 percent from industrial coatings, five percent from OEM
(excluding automotive) and five percent from auto refinish.
As the leading paint producer in Central and South America and
the fourth largest architectural paint manufacturer in North America, Comex serves professional and DIY customers through more
than 3,300 locations from Canada to Panama.
Comex Group’s wide range of products are manufactured and
marketed through a group of regional companies. Comex Group’s
companies in the U.S. and Canada were formerly part of Professional
Paint, Inc. (PPI). PPI was brought into the Comex Group in 2004.
PPI’s network of regional paint formulators sell under different
brands in the U.S. including Color Wheel in Florida, Frazee in Cali-
fornia, Kwal Paint in Colorado, Parker Paint in the U.S. Pacific
Northwest and General Paint in Canada. Comex’s industrial line of
paint, coatings and building products complement PPI’s residential
and commercial paint lines. Comex Group also operates Comex
Mexico and Comex Central America.
www.coatingsworld.com
Coatings World | 59
