Sherwin-Williams buys Nitco Paints - <b>Video</b>

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The Sherwin-Williams Company, based in Cleveland, Ohio, today announced the acquisition of Mumbai-based Nitco Paints for an undisclosed amount. Nitco Paints has sales of approximately Rs 80 crore.

Chirstopher M Connor, chairman and chief executive, The Sherwin-Williams Company, said: "We are excited to be entering the dynamic Indian market, and look forward to growth opportunities."

Vivek Talwar, principal owner of Nitco Paints, said: "I am pleased that Sherwin-Williams has purchased Nitco Paints as it will bring additional resources to further enhance the Nitco Paints participation in the growing Indian market, and will provide expanded opportunities for Nitco employees. In addition, the excellent co-operation between Nitco Tiles and Nitco Paints will continue to be maintained."