Pidilite subsidiary inks pact to sell Cyclo biz to US firm

Pidilite Industries today announced that its subsidiary has inked an agreement with US-based Niteo Products LLC for sale of its automobile grooming products wing Cyclo division.

The agreement has been signed between the Pidilite USA In (PUSA) and Niteo Products LLC, the company said in a BSE filing.

The cyclo division has been engaged in the business of automobile grooming, performance and maintenance of products and other such products.

"Some of the trademarks used by the Cyclo Divisions were owned by Pidilite International pte Ltd, Singapore, a wholly owned subsidiary of the company and the same will also stand assigned to Niteo Products LLC, USA," it said.
 

Pidilite Industries is a leading manufacturer of adhesives and sealant, construction chemicals, DIY (Do-it- Yourself) products and polymer emulsions in the country.

Its shares fell marginally to close at Rs 797 apiece on NSE today.