Pidilite Industries

Huntsman Corporation entered a definitive agreement to sell its India-based DIY consumer adhesives business to Pidilite Industries Ltd. in an all-cash transaction valued at up to $285 million. The transaction is expected to close within the coming week.

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.

Litokol has signed a joint venture agreement with Pidilite Industries to produce epoxy, polyurethane and other bicomponent reactive compounds for the ceramics and construction industry in India. The initial investment is around EUR 4 million.

Pidilite Industries entered into a joint venture with Chetana Expotential Technologies to deploy post compressed aerated concrete wall panel technology in India, Sri Lanka and Bangladesh. The JV was announced on August 27, 2019.

Pidilite Speciality Chemicals Bangladesh, a subsidiary of Pidilite Industries, commissioned a new manufacturing plant at Bhaluka in Mymensingh, Bangladesh on 21 August 2019. The investment is over BDT 550 million.

Pidilite Industries formed two joint ventures: one with Italy-based epoxy grout maker Litokol to invest in a new manufacturing facility in India, and another with Spanish mortar company Grupo Puma to invest in a modern manufacturing facility in India.

Pidilite Industries is planning a new adhesive manufacturing unit in APSEZ, Visakhapatnam district, Andhra Pradesh, with an investment of ₹2,150 million and capacity of 0.1 million tpa. The project is under implementation and expected to be operational by March 2020.

Pidilite Lanka (Private) Limited formally commissioned a new state-of-the-art adhesive manufacturing plant in Polgahawela, Sri Lanka on July 10, 2018. The zero-discharge plant on four acres will initially manufacture adhesives under the Fevicol brand.

Pidilite Industries has approved the acquisition of a 70% stake in CIPY Polyurethanes for Rs. 96.40 crore. CIPY manufactures floor coatings using polyurethanes, epoxies, polyurea and polyaspartic polymers.

Pidilite Industries has acquired the adhesive business of Ahmedabad-based Bluecoat Private Limited on a slump sale basis for Rs 263.57 crore. Bluecoat's manufacturing facility is in Baddi, Himachal Pradesh.