Berger Paints India has received an approval for purchasing 1,03,03,580 equity shares of Saboo Hesse Wood Coatings (SHWCPL), representing 51% of the paid-up equity share capital of SHWCPL. The balance 49% is held by Hesse Shares GmbH of Germany. The board of directors at their meeting held on May 30, 2017, has approved for the same.
Berger Paints India is the second largest paint company in India with a gross turnover of more that Rs 5,000 crore. It is present in all segments of paint including decorative, automotive, industrial, protective and powder coatings.