Bangladesh paint industry, Elite, Romana, Roxy, Al Karim and Aqua Paints capturing Indian paint market with new products and offers

SpecialChem | Mark Drukenbrod - Nov 2, 2004

Welcome to your early week paint industry update from PaintandCoatings.com. First this issue, a quick note. If you are a citizen of the USA, you know that today is election day. Please make our Founding Fathers proud, go and vote for the Presidential and legislative candidates of your choice.

Now, on to the industry. While we sometimes don't think of it as a large market, there appears to be a paint industry renaissance of sorts afoot in Bangladesh. Berger and Indian juggernaut Asian Paints trade there, and some 38 small and medium size companies are engaged in paint production in Bangladesh. The total Bangladesh paint market is estimated to be over 50,000 tons valued at around Tk 450 crore. Per capita paint consumption is around 250gm.

A regional paint company official said low per capita consumption of paints, vast potential to upgrade the market, limited product range, increasing urbanization and consistent GDP growth (around 5-6 percent,) have made the Bangladeshi paint industry a promising area for investment.

With rising demand, other local players such as Elite, Romana, Roxy, Al Karim and Aqua Paints, are also forming their marketing strategies to increase market share by introducing new products and promotional offers.

In developed markets, we take copyright and trademark law as a necessary concept which makes our marketing organizations pulse with action. Maybe not so much in Chennai, India, where this week a paint company owner allegedly manufactured inferior quality cement paint and marketed it in the brand name of a competing company.

To their extreme credit, local police arrested two persons in this infringement case. Police sources said the head of a paint company called Vijaya Paints in Kodungaiyur allegedly manufactured inferior quality cement paint and marketed it under the brandname "Butter Fly".

Acting on a complaint from the owner of Buttery Fly cement paint company, Chennai Central Crime Branch detectives investigated the case and arrested the Kodungaiyur manufacturer for the marketing of fake cement paint and an accomplice who assisted in preparation of forged packaging.

The arrested parties were produced before the Egmore Chief Metropolitan Magistrate who remanded them to judicial custody.

Finally, after more than 25 years of indirect involvement in Japan, International Paint Monday staged an inauguration ceremony in Tokyo to formally announce the creation of International Paint Japan and confirm its status as a full member of the Japanese marine community.

Speaking at the event, David French, International Paint's General Manager for Japan, Australasia and Korea, said: "Our commitment is to provide the level and quality of service which Japanese and worldwide marine customers have come to expect both locally and globally."

In the news, Akzo Nobel Car Refinishes has signed a technology cross-licensing agreement for automotive plastic coatings with Origin Electric Co. Ltd. based in Tokyo. This agreement enhances Akzo Nobel's access to the Japanese vehicle manufacturing market for the supply of coatings used on plastic car parts, such as dashboards, bumpers and wing mirrors ... more about this news

Eastman Chemical Company announced earnings of $0.49 per diluted share for third quarter 2004 versus a loss of $4.35 per diluted share for third quarter 2003. Excluding the items described below for both periods, third-quarter 2004 earnings per diluted share were $0.79 compared with third-quarter 2003 earnings per diluted share of $0.26 ... more about this news

Asian Paints announced their results for the six months ended September 30, 2004. For the six-month period, Asian Paints consolidated sales increased by 11.2% to Rs. 12,307 million from Rs. 11,066 million for the corresponding period of the previous financial year ... more about this news

From techno aquamarine and rich mahogany to glittering green and delicate yellow, the next generation of automotive colors reflect a bright and vibrant outlook toward the future, according to PPG Industries ... more about this news

As always, thank you for reading and using PaintandCoatings.com, now powered by SpecialChem.

Best,
Mark Drukenbrod
editor@paintandcoatings.com

Join SpecialChem Expert Team to contribute to our editorial line! Contact us at chief-editor-pc@specialchem.com
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