Asian Paints arm shuts down Baddi plant

Written by fe Bureau | Mumbai | Updated: Nov 26 2013, 10:37am hrs
FMCG major Asian Paints on Monday announced that its wholly-owned subsidiary, Asian Paints Industrial Coatings (APICL), has closed down operations at its powder-coatings plant at Baddi from November 25 due to a significant decline in processing volumes over the last two years.

''APICLs plant at Sarigam, Gujarat will continue its operations and is sufficient to cater to the future requirements, " said the company. The capacity of APICL's Baddi plant is around 1,800 metric tonne.

"As the demand for powder coatings... is declining, the company has decided to close operations at its Baddi plant...." said an analyst.