Techno Paints launches Colour Banks technology

 Hyderabad: Hyderabad-based Techno Paints, which manufactures and sells paints, said on Tuesday that it had introduced the ‘Colour Banks’ technology, bringing its services on par with paint industry leaders. About six companies use this technology in India.

The company said it would commence production at its three new plants — one each at Pashamylaram and Cheriyal near Hyderabad and the third at Nadikudi in Andhra Pradesh — in October this year. They plants are coming up with an investment of Rs 100 crore.

"We are importing machinery from Germany. With the new plants, our annual production capacity of solvent=based paints will reach 36 lakh litres, that of emulsions will be 120 lakh litres while production of putty will reach 42,000 tonnes," said Akuri Srinivas Reddy, founder, Fortune Group, which sells paints under Techno Paints brand.

Techno Paints established 25 depots to deliver the products to the customers quickly, he added. "With the Colour Banks, as many as 3,000-plus colours can be offered to customers within minutes. Our app can be used by smartphones."  Colour Banks services will initially be available at 1,000 of the company's dealers, he said.

Techno Paints has been in operation for more than two decades. It is operating in Telangana, Andhra Pradesh, Karnataka and Tamil Nadu and it has recently entered Madhya Pradesh and Odisha. It has 1,000 dealers now. Reddy said that the dealer network will be expanded to 3,000 by March 2024, a release said.

"We will open 250 experience centres by March 2024.  About 25 of these centres are ready for inauguration. Construction chemicals, wood finishes, special finishes, painting tools, tile additives, paints and other products will be displayed in these centres," Reddy explained.