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Speaking at an official Indo-UK business seminar in Southern India recently, Patricia Hewitt MP, former cabinet minister and chair of the UK-India Business Council, said that the joint venture company forged between Manchester-based HMG Paints and Titan Paints & Chemicals of Coimbatore was an ideal example of how commercial partnerships can be fostered between the two countries.
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Jointly organised by UK Trade & Investment and the Confederation of Indian Industry, the 'Partners in Action' seminar explored opportunities for partnering with the local business community, in order to expand overseas operations, and presented case studies of UK firms already doing business in India. The British Deputy High Commissioner in Southern India, Mike Nithavrianakis, led the seminar and a senior member of the Indian parliament, Poongothai Aladi Aruna, delivered a keynote address.
Two board members of Titan HMG Paints India Limited, Ravi Sam and John Fenton, used the occasion to announce that the JV will increase its production capacity three-fold over the next three years. It is also in the process of widening its product range to cover paint market sectors like marine finishes and specialist coatings.
"At present, the company has a production capacity of 100,000 litres per month," said Managing Director, Ravi Sam. "We shall be investing Rs 12 crore (£1.6m) in the next two years, to increase capacity three times by 2012. Our sales target is to touch Rs 100 crore (£13.4m) over the next five years."
Fellow board member, John Fenton, who was among a number of senior representatives from HMG Paints attending the event, added: "We shall soon appoint dealers all over South India and the nation's leading industrial state of Maharashtra, in order to expand distribution and increase our customer base. India is a huge market and it is also a good stepping stone for supplying other countries, such as China, Malaysia and Thailand."
Formed last year, Titan HMG Paints India is a JV enterprise between long-established surface coatings manufacturer HMG Paints, which this year celebrates its 80th anniversary, and a flagship company of the renowned LMW Group, Titan Paints & Chemicals, which itself dates back to 1947. Based in Coimbatore, one of the fastest growing cities in India and a favoured city for inward investment, the newly-formed company produces a wide range of industrial coatings, for protecting plant, machinery and other structures from abrasion, corrosion, weathering and chemical attack.
While Titan provides the domestic manufacturing resource and local sales and marketing expertise, HMG has contributed intellectual property in the shape of paint formulations, the latest production methodology and applications know-how arising from its unrivalled European market experience.
HMG paint technicians and production specialists regularly visit the Coimbatore plant, including Business Development Director, Steve Crossman, Senior Colour Technician, Nigel Sykes, Production Engineer, Russell Williams and Laboratory Technician, Jonathan Falder, to liaise with their opposite numbers in India. The latest outcome of this intelligence sharing has been the launch of five new paint products, including a metallic polyurethane topcoat and a synthetic enamel finish, which were unveiled by Patricia Hewitt MP at the seminar.
"We are very excited about the future of Titan HMG Paints and delighted to be showcased during a business mission of this calibre," says HMG Paints MD John Falder, who also sits on the JV board. "Our Indian partners have show exceptional commitment to this venture and the fruits of our joint endeavours are now being realised. On a personal note, I am particularly proud of the hard work and technical skills demonstrated by our Manchester team."
Further enquiries to HMG Paints at Riverside Works, Collyhurst Road, Manchester M40 7RU, telephone 0161 205 7631, email sales@hmgpaint.com, www.hmgpaint.com
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Press Contact David Gent Creative 01706 220388 david@davidgent.com
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David Gent
David Gent Creative
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