Asian Paints re-starts Egypt operations

NEW DELHI: India's leading paint company, Asian Paints, on Monday said it has commenced operations partially, at its two manufacturing units in Egypt.

The company had shut down operations at the two manufacturing units last week, in the wake of the ongoing political crisis in Eygpt.

"The two plants of the company's subsidiary, SCIB Chemicals SAE, Egypt, which were shut due to prolonged curfew, have restarted the operations partially with effect from February 6, 2011," Asian Paints said in a filing to the BSE.

According to sources, the company's decision to re-start the operations, however, did not suggest any improvement in the situation in the country.

Asian Paints' two manufacturing units are located at an industrial area about 50 kms from Cairo. Egypt contributes significantly to the sales in the Middle East region for Asian Paints.

Other leading FMCG companies, Dabur and Marico, have temporarily shut down their plants in the Arab nation.