Pidilite Industries has entered into a joint venture agreement (JVA) with Hybrid Coatings for manufacture of construction chemicals and to establish a joint venture company in India for this purpose. Hybrid Coatings is a partnership firm.
The joint venture proposes to carry on business in India, South East Asia and SAARC countries or such other locations as may be decided. Besides, the initial contribution by the company is not likely to exceed Rs 3 crore.
Pidilite Industries has diversified in various segments such as adhesives and sealants, construction and paint chemicals, automotive chemicals, art materials, industrial adhesives, industrial and textile resins and organic pigments and preparations. It has created brands like Fevicol, Dr Fixit, Cyclo, hobby ideas, Roff and M-Seal.
