Pidilite buys adhesives business of PVAC in Sri Lanka

Pidilite Industries Ltd, the maker of Fevicol and India’s leading adhesive manufacturer, has acquired adhesive brands from CIC Holdings in Sri Lanka. “Pidilite Lanka Pvt Ltd (PLPL), a step down subsidiary of the company incorporated in Sri Lanka, has acquired from CIC Holdings PLC, the Chemifix trade mark and other brands associated with PVAC Adhesives business along with the commercial and technical knowhow relating to PVAC Adhesive business. Pidilite International Pte Ltd and Pidilite Middle East Ltd (wholly owned subsidiaries of the company) hold 76 percent of the paid up capital in PLPL,” said Pidilite Industries in a BSE filing on November 30, 2015.
   
CIC Holdings Plc, a large conglomerate in Sri Lanka, is involved in number of segments in Sri Lanka such as chemicals, fertilisers, pharmaceuticals, agri chemical, food products etc.