Pidilite Industries to acquire 70% stake in Tenax India Stone Products

Pidilite Industries announced it will acquire a 70% stake in Tenax India Stone Products, the Indian subsidiary of Italian firm Tenax SPA, for approximately Rs 80 crore. Tenax India is engaged in sales and distribution of adhesives, coatings, and surface treatment chemicals for the marble and stone industry.

“This acquisition will help expand Pidilite's presence in the fast-growing adhesives, coatings and surface treatment chemicals market for the marble and stone industry and bring world class technology to India by investing in a manufacturing plant.”business-standard.com

• 3 sources
• business-standard.comPidilite to acquire majority stake in Tenax India Stone for Rs 80 crPress Trust of IndiaFeb 27, 2020
• economictimes.indiatimes.comTenax India Stone Products: Pidilite acquires majority stake in Tenax India Stone Products - The Economic TimesNehal ChaliawalaFeb 28, 2020
• pinkerala.comPidilite Industries announces the acquisition of the majority stake in Tenax India Stone Products Pvt. LtdPinkeralaMar 2, 2020

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