Kansai Nerolac — a Japanese and Indian
joint venture company based in India — has acquired a 68 per cent stake in
paint manufacturer Nepal Shalimar for Rs 120 million.
Chairman of the Nepal Shalimar Ashok Kumar Baidya confirmed the share handover of Nepal Shalimar to Kansai Nerolac. However, he said that it would take some time to finalise all the paperwork. "The majority stakeholder Kansai Nerolac will change the name of Nepal Shalimar into Kansai Nerolac Nepal Pvt Ltd after the final paper works," he said, adding that the joint venture has become possible due to the recent signing of Bilateral Investment Promotion and Protection Agreement (BIPPA) between Nepal and India.
The agreement encouraged Kansai Nerolac to enter into joint venture with Nepali company, Baidya added.
Kansai Nerolac also expected to raise its share in Nepal to 15 per cent in the current fiscal year and inject capital making it to a total of around Rs 250 million, Baidya said, adding that it will be the first joint venture among Japan, India and Nepal.
Nepal Shalimar enjoys an eight per cent market share, ranking fourth among Nepal's top five paint manufacturers. "With the acquisition of the leading paint maker in Nepal, Kansai Nerolac expects to capture nearly 15 per cent market share in the current fiscal year,” Kansai Nerolac managing director HM Bharuka has been quoted saying.
Nepal Shalimar has a capacity of 11,000 tonne.
"We have been exporting Kansai Nerolac paints to Nepal but due to heavy duties in Nepal, we could not expand our business," Bharuka said, adding that Kansai Nerolac — a listed company in India — was considering two options either an acquisition or setting up a manufacturing facility to expand its footprint in Nepal.
"We will utilise the company’s plant to manufacture the Nerolac range of products which are currently exported to Nepal,” he added.
Chairman of the Nepal Shalimar Ashok Kumar Baidya confirmed the share handover of Nepal Shalimar to Kansai Nerolac. However, he said that it would take some time to finalise all the paperwork. "The majority stakeholder Kansai Nerolac will change the name of Nepal Shalimar into Kansai Nerolac Nepal Pvt Ltd after the final paper works," he said, adding that the joint venture has become possible due to the recent signing of Bilateral Investment Promotion and Protection Agreement (BIPPA) between Nepal and India.
The agreement encouraged Kansai Nerolac to enter into joint venture with Nepali company, Baidya added.
Kansai Nerolac also expected to raise its share in Nepal to 15 per cent in the current fiscal year and inject capital making it to a total of around Rs 250 million, Baidya said, adding that it will be the first joint venture among Japan, India and Nepal.
Nepal Shalimar enjoys an eight per cent market share, ranking fourth among Nepal's top five paint manufacturers. "With the acquisition of the leading paint maker in Nepal, Kansai Nerolac expects to capture nearly 15 per cent market share in the current fiscal year,” Kansai Nerolac managing director HM Bharuka has been quoted saying.
Nepal Shalimar has a capacity of 11,000 tonne.
"We have been exporting Kansai Nerolac paints to Nepal but due to heavy duties in Nepal, we could not expand our business," Bharuka said, adding that Kansai Nerolac — a listed company in India — was considering two options either an acquisition or setting up a manufacturing facility to expand its footprint in Nepal.
"We will utilise the company’s plant to manufacture the Nerolac range of products which are currently exported to Nepal,” he added.
Thanks for any other wonderful article. The place
ReplyDeleteelse may just anybody get that kind of information in such an ideal way of writing?
I've a presentation next week, and I am at the search for such info.
Here is my blog - myface5.com
justified and in actuality you are generally your self not even completely
ReplyDeleteconvinced of the point. In any event I did enjoy reading it.
My website :: sugarforum.jp
ReplyDeleteAlso visit my web page free fuckbook
obviously like your web-site but you have to check the spelling on quite a few of your posts.
ReplyDeleteA number of them are rife with spelling problems and I find it very bothersome to
tell the truth nevertheless I will surely come back again.
Here is my blog ... free dating chatting
er 1 hour. It's on the list of easiest computer upgrade treatments one can visualize. Thanks for giving your ideas.
ReplyDeleteStop by my webpage: facebook sex
In these days of austerity plus relative anxiousness about having debt, most people
ReplyDeletebalk up against the idea of employing a credit card to make acquisition of merchandise or pay for any
gift giving occasion, preferring, instead only
to rely on the particular tried plus trusted technique of making repayment - raw cash.
However, if you possess cash on hand to make the purchase entirely, then,
paradoxically, that's the best time for you to use the credit cards for several good reasons.
Here is my blog post: fuck book
I am usually to running a blog and i actually appreciate your
ReplyDeletecontent. The article has really peaks my interest. I am going to bookmark your web site and maintain checking for brand new information.
Here is my web site ... adult finder
I was just searching for this information for a while.
ReplyDeleteAfter six hours of continuous Googleing, at last I got it in your
web site. I wonder what's the lack of Google strategy that don't rank this type
of informative websites in top of the list. Usually the
top web sites are full of garbage.
Visit my web blog ... find dating sites
whoah this blog is great i love reading your posts.
ReplyDeleteKeep up the great work! You know, a lot of people are searching around for this info, you could
aid them greatly.
Here is my site; facebook sex
After study a few of the blog posts in your website now, and I actually like
ReplyDeleteyour way of blogging. I bookmarked it to my bookmark web site
list and will probably be checking back soon. Pls try my website as properly and let me know what you think.
My blog - fuckbook
I relish, result in I found exactly what I used to be looking for.
ReplyDeleteYou've ended my four day long hunt! God Bless you man. Have a nice day. Bye
my page - cyber sex
Heya i am for the first time here. I came across this board and I find It truly useful &
ReplyDeleteit helped me out much. I hope to give something back and help others like you helped me.
Feel free to surf to my webpage: fuck book