PPG and Asian Paints Extend Decades-Long Partnership in India
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August 2025 : PPG, a global leader in paints, coatings, and specialty materials, has announced the extension of its joint venture agreement with Asian Paints Ltd. in India for an additional 15 years. The renewal, which builds on a successful decades-long partnership, will take effect in 2026 and run through 2041.
The extended agreement solidifies the companies' commitment to serving a wide range of markets in India, one of the world's fastest-growing economies. The joint ventures will continue to provide industry-leading solutions to customers in the industrial, protective, marine, packaging, automotive and powder coatings segments.
The partnership, which began in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd., was expanded in 2012 with the creation of a second 50-50 joint venture, Asian Paints PPG Private Ltd. The renewal ensures both companies will continue to leverage their respective strengths -PPG's technical expertise and global footprint, and Asian Paints' deep market understanding and local relationships.
"We are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market," said Tim Knavish, PPG chairman and CEO. "This decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region."
Under the renewed structure, management control will remain consistent, with PPG retaining management control of PPG Asian Paints Private Ltd. and Asian Paints Ltd. holding effective management control of Asian Paints PPG Private Ltd.
The renewal of this strategic alliance is expected to further strengthen the companies' position in the dynamic Indian coatings market and enable them to meet the evolving needs of industrial customers in the region.
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