Teknovace, Remmers Forge Rs 3 Bn Deal for Global Coatings Hub

09 Jan 2026 CW Team

The partnership comes at a time when India’s wood coatings market, valued at around $1.3 billion (Rs 100 billion), is growing at an estimated 11% annually, driven by demand for premium furniture, interior finishes and sustainable materials. Despite a strong domestic raw material base, the segment remains import-dependent, presenting an opportunity to develop globally competitive manufacturing capabilities within the country.

Founded in 2019, Teknovace has emerged as a fast-growing player in premium wood coatings, recording a 43 per cent annual average growth rate since inception. The company reported revenues of Rs 570.1 million in FY25 and currently operates two manufacturing facilities with a combined capacity of 6,000 tonne per annum. Remmers, founded in 1949, operates in more than 30 countries and brings over 75 years of expertise in speciality construction chemicals and high-performance wood coatings.

The proposed investment will be used to expand Teknovace’s production capacity to 60,000 tonnes per annum, establish an integrated UV coatings facility, set up an in-house resin manufacturing unit and build a greenfield construction chemicals plant in India. The partnership also includes plans to create a global R&D centre in India, combining Remmers’ technology platforms with Teknovace’s manufacturing and application expertise.

“This partnership with Remmers is not just about capital; it is about building a deeply integrated, technology-led manufacturing ecosystem in India,” said Pankaj Singh, Managing Director, Teknovace. Dirk Sieverding, Chairman of the Board, CEO & Co-owner, Remmers Group, said, “This partnership reflects our confidence in India as a global manufacturing hub.”

The alliance aims to position India as a global sourcing and export base for advanced coatings across multiple international markets.

Teknovace has entered into a strategic global partnership with Germany-based Remmers Gruppe SE to build a large-scale, export-oriented wood coatings manufacturing platform in India. As part of the alliance, Remmers will make a strategic equity investment of Rs 3 billion to acquire a 50.01 per cent stake in Teknovace in two tranches, marking one of the largest foreign strategic investments in India’s wood coatings sector.The partnership comes at a time when India’s wood coatings market, valued at around $1.3 billion (Rs 100 billion), is growing at an estimated 11% annually, driven by demand for premium furniture, interior finishes and sustainable materials. Despite a strong domestic raw material base, the segment remains import-dependent, presenting an opportunity to develop globally competitive manufacturing capabilities within the country.Founded in 2019, Teknovace has emerged as a fast-growing player in premium wood coatings, recording a 43 per cent annual average growth rate since inception. The company reported revenues of Rs 570.1 million in FY25 and currently operates two manufacturing facilities with a combined capacity of 6,000 tonne per annum. Remmers, founded in 1949, operates in more than 30 countries and brings over 75 years of expertise in speciality construction chemicals and high-performance wood coatings.The proposed investment will be used to expand Teknovace’s production capacity to 60,000 tonnes per annum, establish an integrated UV coatings facility, set up an in-house resin manufacturing unit and build a greenfield construction chemicals plant in India. The partnership also includes plans to create a global R&D centre in India, combining Remmers’ technology platforms with Teknovace’s manufacturing and application expertise.“This partnership with Remmers is not just about capital; it is about building a deeply integrated, technology-led manufacturing ecosystem in India,” said Pankaj Singh, Managing Director, Teknovace. Dirk Sieverding, Chairman of the Board, CEO & Co-owner, Remmers Group, said, “This partnership reflects our confidence in India as a global manufacturing hub.”The alliance aims to position India as a global sourcing and export base for advanced coatings across multiple international markets.

Infrastructure Urban

30 Jan 2026

Turning environmental challenges into recoverable value streams.

The lack of scalable, scientific solutions capable of handling legacy waste and complex urban waste streams led to the establishment of Blue Planet Environmental Solutions. In conversation with CW, Prashant Singh, Co-Founder & CEO, shares the company’s journey from a startup to a city-scale environmental infrastructure player, detailing large municipal projects, decades-old legacy waste remediation, land recovery outcomes and its expanding circular economy footprint.How has the visio..

Infrastructure Transport

30 Jan 2026

India's Highway Crisis!

Massive spending, inflated metrics, systemic delays and deep-rooted corruption now threaten the credibility of India’s highway expansion, observes LT GEN RAJEEV CHAUDHRY (Retd), former DG Border Roads.India is spending more on national highways than ever before. With Rs 2.72 lakh crore earmarked for FY 2025–26 and ambitious targets under the Amrit Kaal vision, the narrative is one of speed, scale and transformation. Yet, beneath the headline numbers lies an uncomfortable realit..

Infrastructure Urban

30 Jan 2026

Audit: Time to Elevate

The year 2026 got off to a sorry start for the elevator industry with a 31-year-old security guard crushed to death when a lift collapsed on him in a Mulund East (Mumbai) housing society, and two boys, aged 11, grievously injured by falling into a lift duct when the third floor lift door in their Goregaon (Mumbai) building gave way. Faulty door-lock wiring and poor maintenance by the vendor are most probably behind these tragic accidents.No month goes by without a fatal elevator accident in some city across India. CW asks why?To read the full story Click Here ..