Sirca Paints India Limited has executed a revised irrevocable agreement with Sirca S.p.A., Italy, extending their long-standing collaboration in distribution, manufacturing, and brand usage rights of the “Sirca” brand until 2041.
Under this renewed arrangement, Sirca Italy will transfer technical know-how for the manufacturing of high-quality, high-technology acrylic, UV, and polyester-based wood coating products in India. These coatings are currently being imported from Italy, and local production is expected to improve cost efficiency and self-reliance for the company.
As part of the new agreement, Sirca Paints India will pay a royalty of 0.75% on reported turnover, payable on a quarterly basis to Sirca Italy starting January 1, 2026. Sirca S.p.A. currently holds 23,63,500 shares in Sirca Paints India Limited.
The company noted that this development marks a significant milestone in its growth journey by enhancing technological advancement, inventory management, and supply chain flexibility. The extended agreement supersedes all existing arrangements, reinforcing the strategic partnership between the two companies.
Sirca Paints emphasized that the deal aligns with its long-term vision to strengthen its domestic manufacturing capabilities and expand its premium wood coatings portfolio in India.
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