Pidilite to buy stake in US, European firms

"...Yes, we are holding discussions with some European and US companies to acquire majority stakes in them," Pidilite Industries Chief Sales and Marketing Officer Jairaj Hegde told reporters here.

He, however, declined to give any detail about the possible deal size and the name of the firms.

The company is currently present in the Asian countries, Middle East and the African continent, he said, adding "we want to expand our bases to more countries and new markets".

 

Pidilite Industries presently has seven manufacturing facilities each in India and overseas markets. It sells products to over 100 countries across the globe.

The company today launched a heat-reducing exterior coating chemical, Heatshield, which is developed with the aim to bring down inside temperature by about 5-6 degree centigrade than the outside temperature.

"The new Dr Fixit Heatshield is designed for the Indian climate and can withstand extreme heat. It can provide protection against Ultra Violet and Infra Red radiation," Hegde said, adding the product would have a 10-year life.

The construction chemical division of the company recorded a sale of Rs 120 crore during the last financial year. It witnessed a compound annual growth rate of 42 per cent in FY08.