Corporate News | Berger Paints appoints Ernst & Young as advisors1 min read . Updated: 29 Jul 2010, 09:43 PM IST
Corporate News | Berger Paints appoints Ernst & Young as advisors
Kolkata: Berger Paints India Ltd has appointed consulting firm Ernst & Young to advise it on a potential acquisition of a specialty paints maker, according to Kuldip Singh Dhingra, Berger’s chairman.
“The proposed acquisition, still at a preliminary stage of assessment, will help us attain economies of scale and create better access to raw materials," he said, addressing the media after Berger’s annual general meeting in Kolkata on Thursday. Berger proposes to double its production capacity to 500,000 tonnes per annum in five years; this is going to cost at least Rs300 crore, he added. The company is currently setting up a 150,000-tonne water-based paint manufacturing facility at Hindupur in Andhra Pradesh.
This factory alone is estimated to cost Rs125 crore. Besides this, Berger proposes to set up a 50,000-tonne automotive paints factory in Pune at a cost of Rs100 crore. It will also ramp up production capacity of its plants at Goa, Jammu and Rishra in West Bengal, according to Dhingra.
Discovery to launch new channel ‘TLC’
Discovery Networks Asia Pacific announced the launch of TLC, a premier lifestyle channel, which will replace Discovery Travel & Living from 1 September, 2010. Discovery Travel & Living was launched in six years ago in October 2004.
“TLC will adorn a hipper, trendier and cooler look," said Rahul Johri, senior vice president and general manager of Discovery Networks Asia-Pacific. The channel will be launched simultaneously in 20 other Asian countries besides . It will showcase 150 hours of new programming content within the next three months.
Some of the Indian content includes new episodes interspersed with the existing episodes of Living With A Superstar:Shah Rukh Khan, a show on Mumbai’s superstar.
“Two fresh episodes have been shot on the sets of Ra.One, Khan’s forthcoming film with Kareena Kapoor," confirmed Johri.
Vir Sanghvi’s Asian Diary will also be back with fresh episodes. TLC will cover adventure, home improvement, human interest stories and environment issues apart from travel and cuisine that Discovery Travel & Living was offering earlier. The channel will have six new hosts, 15 new shows and 11 new seasons of existing shows.
TLC has been a part of Discovery Network’s bouquet since 1991 and reaching 99 million homes. The channel will reach 75 countries by the end of 2011. In India, it will reach 50 million subscribers.