You would like to read
- Asian Paints consolidated net profit rises 0.85% in the September 2020 quarter
- Asian Paints standalone net profit rises 0.33% in the September 2020 quarter
- Asian Paints Launches 'Beautiful Homes Boutique' in Ahmedabad, its State-of-the-art Multi-category Decor Showroom
- Asian Paints launches new service to create the home of your dreams
Bengaluru (Karnataka) [India], January 16 (ANI/NewsVoir): Asian Paints being a socially responsible company has always acted in the best interest of its stakeholders. Hence, honoring its commitment to the communities, the company plans to end all dispute at their Mysuru paint plant by setting up an additional facility for any alternate product manufacturing on the same plot for the land sellers. With tremendous respect for the land sellers and the Government of Karnataka, Asian Paints is acting beyond the lines of the terms and conditions agreed upon initially.
The company was in continuous talks with the Government of Karnataka and had offered few additional proposals regarding the employment of land sellers. The Government has now accepted the proposal and the land sellers have also given their nod for employment in a separate set up within the plot. The employment offered shall commensurate with the skill sets and qualification of the land sellers. In addition to the above proposal, Asian Paints will also provide training to the eligible land sellers for a period of six months along with a suitable stipend. The Karnataka Industrial Area Development Board (KIADB) has also agreed to provide the final list of eligible land sellers to Asian Paints by 18th January 2021.
Asian Paints has already borne an additional cost of Rs. 14 crores in alignment with the Government authorities in the past to set up a Health and Hygiene facility in the Mysuru region for the land sellers. Despite incurring such an expenditure, the brand continued to stay committed to the communities around its plant and works with several NGOs in the areas of health, water, hygiene and education. The company truly believe that strong communities are the necessary ingredients of economic success and hence have gone an extra mile so that it honors all the commitments made to the Government and also contributes to the prosperity and progressiveness of the region.
In the last 5 years, Asian Paints has set up 2 mega paint manufacturing facilities in the state of Karnataka and Andhra Pradesh with a total investment of Rs. 2400 crores. Both the plants have an installed capacity of 300,000 KL/annum and together employ about 1200 people. These plants are set up using state-of-the-art technology and are built in line with the concept of 'Smart Factory'. The plants operate with maximum green energy including wind and rooftop solar and have received IGBC (Indian Green Business Council) Platinum rated certification for its buildings from Confederation of Indian Industry (CII).
Since its foundation in 1942, Asian Paints has come a long way to become India's leading and Asia's fourth largest paint company, with a turnover of Rs. 202 billion. Asian Paints operates in 15 countries and have 26 paint manufacturing facilities in the world, servicing consumers in over 60 countries. Asian Paints has always been a leader in the paint industry, innovating new concepts in India like Colour Ideas, Home Solutions, Colour Next, and Kids' World.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
DISCLAIMER
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
