Berger Paints Bangladesh Ltd, market leader in Bangladesh paints industry and Fosroc International Ltd, a global leading company in the field of construction chemicals, have entered into a legally binding joint venture agreement recently for setting up a new legal entity "Berger Fosroc Limited".
The new initiative will facilitate construction and associated industries to witness impressive growth over the next few decades.
Rupali Chowdhury, Managing Director of Berger Paints and Ian Watt, Group CEO and Director, Fosroc International Limited signed the agreement on behalf of their respective entities, said a statement.
The JV agreement signing ceremony was held at Le Meridian, Dhaka.
Amir Hossain Amu, MP, Minister, Ministry of Industries graced the programme as chief guest. He thanked all concerned for initiating the JV and bringing FDI to Bangladesh and expected that this initiative would encourage others to invest also in Bangladesh.
Alison Blake, the British High Commissioner was the special guest of the programme.
Dr. James Muir Hay, Chairman of JMH Group, Gerald K. Adams, Chairman, Berger Paints Fitriani Hasuf Hay, Chairman, Fosroc International and other Board members of Berger Paints &Fosroc International and other high officials were also present in this program.
This new entity is being formed, to service the Construction Chemicals market in Bangladesh, with an aim in providing a superior "constructive solution" for Durable, and Sustainable quality of Infrastructure projects in Bangladesh.
Berger Fosroc Limited will provide solutions to all sectors of the construction industry, specializing in solutions for the construction of buildings, industrial facilities, power plants and to all types of transportation and civil infrastructure.
This new entity will be supported by the parent companies Group Research & Development facilities located in various International locations with state of the art laboratories and a team of dedicated Scientists pioneering product development and innovation.