Company Overview

DIC Coatings India, Ltd. manufactures and markets industrial coatings and adhesives. The company was formerly known as Coates Coatings India, Ltd. and changed its name to DIC Coatings India, Ltd. in June, 2 !. DIC Coatings India, Ltd. was incorporated in "##$ and is %ased in &engaluru, India. 's of June ", 2 " , DIC Coatings India, Ltd. operates as a su%sidiary of The (alspar )*ingapore+ Corporation ,te. Limited.

Company History - DIC India Ltd. YEAR EVENTS 1947 - T ! "ompany #as in"orporat!d T ! "ompany #as "on$!rt!d into a p%&'i" 'imit!d "ompany on (7t )!&r%ary* 197+. T ! ,ain o&-!"t o. t ! "ompany is to man%.a"t%r! printin/ in0* print!rs s%ndri!s* synt !ti" r!sins and ot !r s%r.a"! "oatin/ mat!ria's. 191( - As part o. t ! mod!rnisation and r! a&i'itation pro/ramm!* a mod!rn 1 tonn! r!sin 0!tt'! #as insta''!d at t ! ,%m&ai %nit. 1912 - T ! "ompany insta''!d 4 nos. i/ !..i"i!n"y disp!nsion mi''s at its ,%m&ai and Ca'"%tta .a"tori!s. 1991 - 3arson 4aints Ltd. 534L6 ad &!"om! a s%&sidiary o. t ! Company. T is s%&sidiary #as m!r/!d #it Coat!s o. India* Ltd. 54ar!nt "ompany6 #it !..!"t .rom 1st 7%'y* 199(. 199( - A pro-!"t to man%.a"t%r! ind%stria' ad !si$!s at t ! pr!mis!s o. 3arson 4aints Ltd.* mad! satis.a"tory pro/r!ss. 8osti0 Ltd.* 9.3 #it # om t ! Company ad !nt!r!d into a t!" ni"a' "o''a&oration a/r!!m!nt* "omp'!t!d trans.!r o. t!" no'o/y. 199+ -Coat!s o. India #as !nt!r!d into a -oint $!nt%r! #it Va'spar Corporation o. t ! 9S and trans.!rr!d its "an "oatin/s &%sin!ss to t is "ompany. - T ! "ompany propos!d to !nt!r a -oint $!nt%r! #it Cray Va''!y o. )ran"!. Appro$a' #as a#ait!d .rom t ! 4o''%tion Contro' 8oard. 1997 -Appro$!d t ! s" !m! .or trans.!r o. t ! pa"0a/in/ "oatin/s &%sin!ss o. Coat!s to t ! -oint $!nt%r! #it Va'spar Corporation o. t ! 9S. -d!"id!d to parti"ipat! in t ! !:%ity o. Cray Va''!y R!sins India Ltd t ! n!# -oint $!nt%r! &!t#!!n t ! "ompany and t ! )r!n" .irm Cray Va''!y.

1991-Coat!s o. India;s propos!d -oint $!nt%r! in India #it Cray Va''!y o. )ran"! no# mor! t an a y!ar on t ! startin/ &'o"0 .a"!s a /rim .%t%r! d!spit! a C!ntra' <o$!rnm!nt "'!aran"! .or t ! pro-!"t. 1999 -Coat!s o. India Ltd as sp%n o.. its pa"0a/in/ "oatin/s &%sin!ss into a # o''y o#n!d s%&sidiary "ompany "a''!d Coat!s Coatin/s India Ltd 5CCIL6 # i" as initiat!d mo$!s to ind%"t Va'spar Corporation o. t ! 9S as a 49-p!r "!nt -oint $!nt%r! partn!r.

(=== -)ina'is!d t ! sa'! o. its ad !si$!s di$ision to 8osti0 India 4$t Ltd at a "onsid!ration o. a 'itt'! o$!r Rs 9 "ror!.

(==2 -Dainippon In0 > C !mi"a' 5DIC6 Asia 4a"i.i"* t ! Sin/apor!-&as!d par!nt o. Coat!s o. India 5CoI6* as i0!d its sta0! in t ! Indian s%&sidiary to +1.4? .rom @9.4? &y &%yin/ s ar!s .rom t ! s!"ondary mar0!t.

Adhesives unit sell-off for strategic reasons: Coates MD

Our Bureau CALCUTTA, Oct. 27 AFTER considering the long-term ia!ilit" #actor, the !oard o# Coates o# $ndia Ltd has cleared the management%s &ro&osal to sell o## '!" (a" o# a slum& sale) the com&an"%s adhesi es !usiness to Total#ina o# France, (hich till recentl" (as the &arent o# t he $ndian out#it. The &rinting in*s ma+or launched the adhesi es !usiness in colla!oration (ith Bosti* Ltd 'a su!sidiar" o# Total#ina), and (as licensed to manu#acture and mar*et the &roducts under the ,Bosti*% !rand name. Tal*ing to Business Line on Frida", -r ../.-utt, 0anaging -irector, Coates, said the sale (as #or strategic !usiness reasons, and (ould !e on the !asis o# an inde&endent aluation o# the !usiness !" e1&erts, su!+ect to the necessar" a&&ro als. According to the 0-, the sale decision (as &rom&ted largel" !ecause o# the nona aila!ilit" o# the !rand name a#ter the e1&ir" o# the current agreement in 2une 2334. 5e said the sale (ould !e e1ecuted through a direct trans#er agreement &rocedure instead o# the com&licated court-dri en scheme o# arrangement, and the shareholders% a&&ro al (ould !e sought at an E60 in -ecem!er. The sale consideration, said to !e under Rs 43 crore, (ould !e utilised #or the com&an"%s #uture e1&ansion &lans. Total#ina, as &art o# a restructuring e1ercise, sold its interest in the in* !usiness on a (orld(ide !asis to 7un Chemicals 6rou& B.8. '7C6B8), a (holl"-o(ned su!sidiar" o# -aini&&on $n* and Chemicals $nc. '-$C) o# 2a&an. 7C6B8, a 9:-!illion glo!al &la"e r, no( holds ;<.=2-&er cent sta*e in Coates. The grou& is a (orld leader in gra&hic arts &roducts such as &rinting in*s, li>uid and ne(s in*, and chemical coatings. 7ounding u&!eat on the com&an"%s #uture &ros&ects, -r -utt said se eral ne( &roducts #rom the -$C sta!le (ere li*el" to !e launched in $ndia soon. .ointing out that -$C held =3 &er cent o# the (orld in*s mar*et and more than ;3 &er cent o# the &u!licatio ns mar*et in Euro&e, Coates (ould no( rea& the ad antage o# !oth technolog" and &roducts on a sustained !asis. Besides in*s, the other !usinesses o# -$C include areas such as &ol"mers and related &roducts and s&ecialt" &lastics and com&ounds. On the &ro!lem o# 8als&ar Cor&oration o# U7 not "et !ringing in its e>uit" &ortion 'in t(o-stages) #or the +oint enture, Coates Coatings $ndia Ltd 'CC$L), -r -utt said a #inal decision on (hether or not to terminate the agreement (ith 8als&ar (ould !e t a*en !e#ore the com&an"%s ne1t A60, sometime in A&ril 2334.

8als&ar (as &ermitted !" the $ndustr" 0inistr" to ac>uire in stages the entire e>uit" shares in CC$L 'initiall" =< &er cent). Encouraged !" the third >uarter results 'accounting &eriod o# calendar "ear), -r -utt e1&ected the com&an" to maintain a 4; &er cent olume gro(th, (hile conceding that margins (ere li*el" to !e under some *ind o# &ressure '43 &er cent gro(th e1&ected) o (ing to general !usiness conditions.