TOA group, a Bangkok-based paint manufacturer, plans to set up a manufacturing facility near Chennai with an investment of Rs 200 crore to be made over the next five years. Its newly-opened India subsidiary, TOA India Private Limited, will set up the plant that would cater to domestic as well as south Asian markets.
Brijesh Menon, country head, TOA, said the new plant will be spread over 200 acres, and would initially manufacture architecture paints, later moving on to industrials paints. The facility will have a capacity of around 3 million tonnes a year and is expected to go on stream by 2013.
The company said the new plant would serve Sri Lanka, Nepal and Bangladesh markets, which are currently catered to by its Thailand facility. It has eight manufacturing units in as many countries, and sells in 42 countries.
“The Indian arm is expecting a turnover of around Rs 500 crore over the next five years, of which 15-20 per cent will be contributed by exports,” said Menon.
On the product offering, Menon said TOA would be selling only ultra-premium, eco-friendly paints in India and the products would be offer warranty up to 10 years including for selected interior brands. TOA is launching six eco-friendly paint brands on premium grade in India.
The parent company, TOA Paint (Thailand) Company Limited, was started in 1964 and has firmed up its business importing paint products from Japan. Currently the group is a Rs 5,000-crore company with 5,000 employees.
