Berger Paints is looking at acquisitions in Africa, Malaysia, China, Burma and other countries, chairman of the company, K S Dhingra, said.
Addressing shareholders at the company's annual general meeting in Kolkata on Thursday, Dhingra said that the company will not make any greenfield expansion in overseas markets, adding that this would be done through the acquisition route only.
He said that the company, meanwhile, has tied up with two foreign companies for technical collaboration in the decorative paints and powder segments.
The managing director of the company, Subir Bose, said that Berger will make an investment of Rs 30 crore (Rs 300 million) to set up a plant in Jammu. He said that the plant will manufacture decorative paints and powder only.
Asked whether Berger was interested in another city-based paint company, Jenson & Nicholson, Dhingra said, "We shall be interested only when the financial restructuring was over for the company."
The company, Bose said, enjoyed a market share of 20 per cent in eastern India and 16 per cent nationally.
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