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Asian Paints reaffirmed its aspirations for the Sri Lankan market recently with a simultaneous launch of seven new products, including a local industry first - wood stain in designer shades.

The company's dealers, members of the Asian Paints Privilege Club, received a preview of the new products at an evening entertainment organised by the multinational giant's local company, Asian Paints (Lanka) Ltd.

The new products unveiled included a two-pack Epoxy Floor Paint under the Apcolite brand umbrella, Apcolite Exterior Varnish, Apcolite Wood Stains, Melamyne Gold Finish under the Asian Paints label, a fast drying enamel under the company's automotive coatings brand Autocare, Autocare Acrylic Clear Lacquer, and a two-pack Etch Primer labeled Metacare, a new brand name.

Asian Paints Vice President - International Jalaj Dani told invitees the company was expanding its international operations rapidly and that the acquisition of companies in Singapore and Egypt would result in Asian Paints operating 31 manufacturing units in the Asian, Pacific, Caribbean and African regions. Annual sales have topped US $ 400 million (about Rs. 38.4 Billion), making Asian Paints one of the top 10 decorative coatings companies in the world, he said. Asian Paints (Lanka), CEO Suresh Mohandas said the launch of the new products was a fulfillment of a promise to introduce a comprehensive product range in Sri Lanka, made at the inauguration of the Privilege Club. He said signs of an economic upturn had added to the company's optimism about the potential of the Sri Lankan market.

Of the seven new products unveiled, the Apcolite wood stains range is unique in Sri Lanka. The stains are available in natural wood colours such as Mahogany, Walnut, Jak and Teak, and also in the basic colours Red, Blue and Green. These stains impart colour to all types of wood without obliterating their natural grain. The colours may be blended to create shade variations of the user's choice.

The Apcolite Epoxy Floor Paint is a low-odour, scratch and marr-resistant floor paint in six shades for cement, concrete and tiled floors. Apcolite Exterior Varnish is a high-gloss clear coating for wood that is exposed to harsh exterior conditions like direct sunlight and rain. Asian Paints Melamyne Gold described as a revolutionary product, is an oil, food and hot beverage resistant clear decorative coating for wood. Autocare fast drying enamel is high gloss finish for automobiles, appliances and machinery. Unlike Nitro Cellulose (NC) automobile paints, this product does not require polishing after painting.

Autocare Acrylic Clear Lacquer is a clear weather resistant top coat for automobiles. Metacare Etch Primer is used to etch non-ferrous metals like aluminium, tin and galvanised iron to improve adhesion of subsequent coatings.

"Launching seven products similataneously is a rare occurrence in an industry like ours," Mohandas said. "This demonstrates our confidence in the market and our long-term commitment to its development."

Established in Mumbai in 1942, Asian Paints has been the market leader in India since 1967. The company, which was ranked among the best 200 companies outside the United States with revenues less than $ 1 billion by the Forbes magazine, has set itself the target of becoming one of the top five decorative paints companies in the world by 2005.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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