JK Cement set to enter paints business
Cement

JK Cement set to enter paints business

On Saturday, JK Cement Limited announced that they will be entering the paints business.Therefore, the paint sector in India will get more competitive.

In an exchange filing, JK Cement told the media that the board of directors of the company in the board meeting held has approved entering into the paint business via a wholly-owned subsidiary, formation and investment in the wholly-owned subsidiary.

The company said that the wholly owned subsidiary shall undertake manufacturing, sales, trade, imports, exports, and other related dealings in all types of paints as well as allied products and services.

JK Cement said their board has given approval for an investment of up to Rs 600 crore, for the first five years of the wholly-owned subsidiary.

The wholly-owned subsidiary formation will enable that company to solely focus on its paints business.

JK Cement is among the leading cement and building products manufacturers in India. Their portfolio spreads to white cement, gray cement along with other value added products.

With this new subsidiary entry into the paints sector, paint manufacturing landscape of India is ready to transform into another highly competitive zone for the corporate biggies of the country.

In the last two years, companies like Grasim Industries, Aditya Birla Group company, and JSW Group have also announced their entry in this sector, which is currently dominated by Berger Paints, Nerolac, and Asian Paints.

Image Source

Also read: JK Cement consolidated net sales at Rs 2,030.49 cr in Dec 2021

On Saturday, JK Cement Limited announced that they will be entering the paints business.Therefore, the paint sector in India will get more competitive. In an exchange filing, JK Cement told the media that the board of directors of the company in the board meeting held has approved entering into the paint business via a wholly-owned subsidiary, formation and investment in the wholly-owned subsidiary. The company said that the wholly owned subsidiary shall undertake manufacturing, sales, trade, imports, exports, and other related dealings in all types of paints as well as allied products and services. JK Cement said their board has given approval for an investment of up to Rs 600 crore, for the first five years of the wholly-owned subsidiary. The wholly-owned subsidiary formation will enable that company to solely focus on its paints business. JK Cement is among the leading cement and building products manufacturers in India. Their portfolio spreads to white cement, gray cement along with other value added products. With this new subsidiary entry into the paints sector, paint manufacturing landscape of India is ready to transform into another highly competitive zone for the corporate biggies of the country. In the last two years, companies like Grasim Industries, Aditya Birla Group company, and JSW Group have also announced their entry in this sector, which is currently dominated by Berger Paints, Nerolac, and Asian Paints. Image Source Also read: JK Cement consolidated net sales at Rs 2,030.49 cr in Dec 2021

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?