Hz info,PPG (NYSE:PPG) announced the extension of its joint venture agreement in India with Asian Paints Ltd on August 4.The 15-year renewal will allow the companies to continue serving the country’s industrial, protective, marine, packaging, automotive and powder coatings customers with industry-leading solutions that solve customers’ biggest challenges. The extension will take effect in 2026 and run through 2041.

“We are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market,” said Tim Knavish, PPG chairman and CEO. “This decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region.”

The partnership was established in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd., to service the automotive, refinish, marine and consumer packaging markets. It was expanded in 2012 with the formation of a separate 50-50 joint venture, Asian Paints PPG Private Ltd., to service the protective and powder coatings market. Both joint ventures will continue to leverage PPG’s technical expertise and global footprint. PPG will continue to have management control of PPG Asian Paints Private Ltd., and Asian Paints Ltd will have effective management control of Asian Paints PPG Private Ltd. to best utilize the companies’ respective strengths.