Joint Venture10 Nov 2025, 01:19 pm
Sirca Paints India Extends Agreement with Sirca S.p.A. Until 2041
AI Summary
Sirca Paints India Limited has announced the extension of its agreement with Sirca S.p.A., Italy until the year 2041. The irrevocable agreement pertains to distribution, manufacturing, and use of the ‘Sirca’ brand. Sirca Italy will transfer the technical know-how to the Company for the manufacturing of high-quality, high-technology acrylic, UV, and polyester-based wood coating products in India. The Company will pay a royalty of 0.75% on the reported turnover to Sirca Italy. This development marks a significant milestone in the Company’s journey toward technological advancement and self-reliance.
Key Highlights
- Extension of agreement until 2041
- Transfer of technical know-how from Sirca Italy
- Manufacturing of high-quality wood coating products in India
- Payment of royalty of 0.75% on the reported turnover
- Significant milestone in the Company’s journey toward technological advancement and self-reliance