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Asian Paints to turn around loss-making overseas units
Mumbai, July 18: Asian Paints (India) Ltd is planning to turn around its loss making international units and expects the overseas business to contribute over 21 per cent of the consolidated revenue in fiscal 2003-04.
Mumbai, July 18: Asian Paints (India) Ltd is planning to turn around its loss making international units and expects the overseas business to contribute over 21 per cent of the consolidated revenue in fiscal 2003-04.
The company would focus on turning around five of its loss making units and on improving the performance of profitable units by maximising efficiency and supply chain and better working capital management, Asian Paints (India) executive chairman Ashwin Choksi said at the annual general meeting on Friday.
The emerging markets offer significant growth opportunities, he said adding, Asian Paints through its subsidiaries has 23 manufacturing facilities in 22 countries.
The emerging markets offer significant growth opportunities, he said adding, Asian Paints through its subsidiaries has 23 manufacturing facilities in 22 countries.
Company sources said the units in Sri Lanka, Bangladesh, Mauritius, Oman and Australia were loss making.
The chairman said international operations have attained a critical mass and was estimated to contribute in excess of 21 per cent of consolidated revenue.
Bureau Report