ICA Pidilite, a joint venture of Pidilite Industries and Industria Chimica Adriatica SPA, Italy (ICA), has entered into an agreement with ICA for licensing of certain UV technology from ICA. ICA Pidilite shall pay an agreed consideration to ICA, which is not being disclosed here for confidentiality reasons.
The aforesaid transaction is a related party transaction and is at an arms’ length basis. This is not a material transaction and it does not have any impact on the management or control of the Company.
Pidilite Industries is a well-known name in the adhesives market.
