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Extended Summary:

Asian Paints to acquire Sri Lanka’s Causeway Paints.

New Delhi: Indias largest paints company Asian Paints Ltd on Thursday said it has agreed to acquire Sri Lankas Causeway Paints Lanka (Pvt.

Ltd will make the acquisition.

Founded in 1994, Causeway Paints makes decorative and refinish paints for automotive and industrial clients, apart from other products.

02 million Sri Lankan rupee (about Rs184.

Asian Paints operates 26 paint factories in 19 countries.

8 crore in the previous financial year.

It also bought a majority stake in Ethiopian paint and adhesives maker Kadisco Chemical Industry Plc in the same year.

The Indian paint market is expected to reach Rs70,875 crore by the end of 2019-20 from around Rs40,300 crore in 2014-15, the industry body Indian Paint Association (IPA) said on 6 January.

5%, IPA said in a release.

Stats For Nerds:

Original Length 2844

Summary Length 846

Summary Ratio: 70.25

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