Maestria Paints to foray into Indian Market
Maestria, the 65-year-old paint company from France has entered the Indian market with its headquarters in Hyderabad. The R & D centre and 20,000 tons installed production facility has come up in Cheriyal near Isnapur, Hyderabad at an initial investment of Rs 40 crore.
Currently, the company has opened direct employment for 150 employees, which will further extend to 500 in operations. While the French company procures raw materials from the local market, only certain international products will be imported.
V Nageshwara Rao, CEO, Maestria India, said: “The paint industry is a stable and continuously growing industry which makes it apt for the French company to enter India with its eco-friendly and protective coating paints being the USP. Going forward, our investment will touch Rs 200 crore and by six years we will expand our footprint pan India, while looking towards clocking a turnover of Rs 250 crore by the same period.”
At present the company has focused its reach to Telangana, Andhra Pradesh, Karnataka and Maharashtra through a strategic cluster of 1500 dealers by next two years.