Berger Paints and Fosroc International inked JV Agreement
Berger Paints Bangladesh Ltd, market leader in Bangladesh Paints Industry and Fosroc International Ltd, a global leading company in the field of Construction Chemicals, have entered into a legally binding Joint Venture agreement signed on January 31, 2018 to setting up a new legal entity “Berger Fosroc Limited”
Rupali Chowdhury, Managing Director of Berger Paints and Ian Watt, Group CEO and Director, Fosroc International Limited signed the agreement on behalf of their respective organizations.
The JV Agreement celebration ceremony was held at Le Meridian, Dhaka on January 31, 2018. Amir Hossain Amu, MP, Honorable Minister, Ministry of Industries, People’s Republic of Bangladesh graced the program as Chief Guest. He thanked all concerned for initiating the JV and bringing FDI to Bangladesh and expected that this initiative would encourage others to invest also in Bangladesh. Her Excellency Alison Blake, the British High Commissioner was the Special Guest of the program. Dr. James Muir Hay, Chairman of JMH Group, Gerald K. Adams, Chairman, Berger Paints Fitriani Hasuf Hay, Chairman Fosroc International and other Board members of Berger Paints & Fosroc International and other high officials were also present in this program.
Her Excellency Alison Blake, the British High Commissioner said “The partnership we are celebrating today is a classic example of our two nations’ commitment to strengthening the bilateral commercial relationship and it showcases what the UK and Bangladesh have to offer.”
This new entity is being formed, to service the construction market in Bangladesh, with an aim in providing a superior “constructive solution” for Durable, and Sustainable quality of Infrastructure projects in Bangladesh.
Berger Fosroc Limited will provide solutions to all sectors of the construction industry, specializing in solutions for the construction of buildings, industrial facilities, power plants and to all types of transportation and civil infrastructure.
This new entity will be supported by the parent companies Group Research & Development facilities located in various International locations with state of the art laboratories and a team of dedicated Scientists pioneering product development and innovation.
Given the increasing demand for infrastructure in Bangladesh, it is expected that the Construction and associated industries will witness impressive growth over the next few decades.