Asian Paints today said its indirect subsidiary, Berger International's (BIL) operations in Bahrain have been affected by the civil unrest and declaration of a state of emergency in the country.
In a filing to the National Stock Exchange, the company said the increasing civil unrest and declaration of a state of emergency by the Bahrain government on March 15, 2011, has impacted the operations of the BIL's wholly-owned subsidiary, Berger Paints Bahrain.
It said the information was based on an announcement made by BIL on the Singapore Stock Exchange.
The company will closely monitor the situation in Bahrain and will make appropriate announcement in the event of any material development, it added.
The factory, warehouse and offices of Berger Bahrain are located in the North Sitra Industrial area of Bahrain.
There has been a civil and political unrest in Bahrain as the demonstrators are protesting against the ruling monarchy.
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The production volumes and revenue from paint sales of Berger Bahrain accounted for around 20% and 15% of the BIL Group's production volume and revenue from paint sales, respectively for the nine months period ended December 2010, the statement added.
According to Berger International's website, the firm's total revenue during the period was Rs 312.24 crore. It has been operating in Bahrain for over 25 years.
In 1994, Berger units were brought under the single umbrella of the holding company 'Berger International' (BIL) with headquarters in Singapore.
"BIL is a part of the Asian Paints Group," according to BIL website.
Earlier this year, Asian Paints was forced to shut down its operations at two manufacturing units in Egypt in the wake of the political crisis in the African nation. The company, has, however, commenced operations at the two units.
Asian Paints' scrips closed at Rs 85.85 per share on the Bombay Stock Exchange, up 3.56% from the previous close. The announcement, however, came after the market hours.