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Asian Paints joins hands with $7.3 billion conglomerate to manufacture VAM

Asian Paints joins hands with $7.3 billion conglomerate to manufacture VAM

Asian Paints joins hands with $7.3 billion conglomerate to manufacture VAM
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By CNBCTV18.com Nov 17, 2022 12:11 PM IST (Published)

The company has entered into technology and other allied agreements with KBR, a $7.3-billion American conglomerate.

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Asian Paints has signed a licensed technology agreement with Kellogg Brown & Root LLC (KBR), a $7.3 billion American conglomerate.
Asian Paints will utilise licensed technology from KBR for setting up a Vinyl Acetate Monomer (VAM) and Vinyl Acetate Ethylene Emulsion (VAE) manufacturing facility.
EBITDA increased 33 percent year-on-year to Rs 1,219.3 crore.
EBITDA margin expanded 170 basis points to 14.4 percent, a big miss compared to the 17.8 percent estimates.
The company also announced a dividend of Rs 4.40 per share.
Asian Paints stock is currently trading at Rs 3,078.80, down 0.14 percent.
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