5 months ago
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Remmers Gruppe SE, an independent, family-owned German institution into speciality operation chemicals and high-performance wood coatings, has announced to get 50.1% involvement successful Teknovace Wood Coatings Pvt. Ltd., 1 of India’s fastest-growing premium wood coatings companies successful 2 trenches for ₹300 crore.
It has already acquired 26% involvement and the equilibrium 24.1% volition beryllium aft 48 months. Remmers volition beryllium represented by 2 members successful the board. The company’s sanction volition beryllium changed to Teknovace Remmers Private Ltd.
The superior infusion volition beryllium deployed to importantly grow Teknovace’s manufacturing and exertion capabilities. This includes scaling wood coatings accumulation capableness from 6,000 tonne to 60,000 tonne per annum, mounting up an integrated UV coatings manufacturing facility, establishing an in-house resin manufacturing unit, and gathering a greenfield operation chemicals mill astatine successful India.
The associated task volition besides make a planetary R&D centre successful India, combining Remmers’ precocious exertion platforms with Teknovace’s R&D-led manufacturing expertise.
Beyond home growth, the confederation volition presumption India arsenic a planetary manufacturing and export hub for precocious coatings. Teknovace volition straight proviso to markets crossed Asia-Pacific, the Middle East, and Africa, portion besides acting arsenic a manufacturing and sourcing spouse for prime planetary markets done Remmers’ planetary network.
Pankaj Singh, Managing Director, Teknovace, said, “This concern is not conscionable astir capital; it is astir gathering a profoundly integrated, technology-led manufacturing ecosystem successful India.”
“Despite India’s affluent earthy worldly base, the state has historically been a nett importer of high-performance wood coatings. Together with Remmers, we purpose to alteration that equation by gathering global-scale manufacturing, backward-integrated capabilities, and export-ready platforms that presumption India arsenic a superior subordinate successful the planetary coatings worth chain,” helium said.
Nikhil Mahapatra, Executive Director, Teknovace, said, “Teknovace has ever been built connected superior efficiency, beardown R&D, and a heavy knowing of the Indian market.”
“With Remmers’ exertion enactment and planetary marketplace access, we present person the accidental to accelerate our maturation journey, grow into operation chemicals and UV coatings, and make a future-ready coatings level that is competitory not conscionable successful India, but globally,” helium said.
Dirk Sieverding, Chairman of the Board, CEO & Co-owner, Remmers Group, said, “India is simply a strategical marketplace for Remmers’ semipermanent planetary growth.”
“Teknovace combines beardown method capability, entrepreneurial agility, and scalable manufacturing—making it an perfect spouse for us. This concern reflects our assurance successful India arsenic a planetary manufacturing hub and our shared ambition to physique sustainable, high-performance coatings solutions for planetary markets,” helium added.
Under the partnership, Remmers volition play an progressive relation successful strategy, exertion transfer, and planetary marketplace integration, moving intimately with Teknovace implicit the adjacent decade.
The strategical concern comes astatine a clip erstwhile India’s wood coatings market—valued astatine astir $1.3 cardinal (₹10,000 crore)—is projected to turn astatine 11% annually, driven by rising request for premium furniture, interior finishes, and sustainable materials, the companies said.
Despite India’s beardown earthy worldly base, the conception remains mostly import-dependent and dominated by European suppliers, creating a important accidental for home manufacturing connected a planetary scale.
Founded successful 2019, Teknovace has been delivering a 43% yearly mean maturation complaint since inception, acold outpacing the broader paints and coatings industry. The institution recorded revenues of Rs 57.1 crore successful FY25, operates 2 manufacturing facilities with a existent capableness of 6,000 tonnes per annum, and serves customers done a nationwide web of branches and dealers.
Remmers, founded successful 1949, operates crossed much than 30 countries and brings implicit 75 years of planetary expertise in precocious coatings, operation chemicals, and worldly science.
The woody is simply a portion of Indo-German inaugural and concern partnership.
