Biznextindia : Pidilite Industries Ltd, leading Indian manufacturer of adhesives, sealants and construction chemicals, has entered into a joint venture with Corporacion Empresarial Grupo Puma S.L. (Grupo Puma) a leading technical mortars manufacturer based in Spain to establish a Joint Venture Company (JVC) in India.
This joint venture will provide a comprehensive array of technical mortars for wide applications ranging from flooring, wall plasters, textured wall plasters, decorative plasters and insulation. Grupo Puma will license the technology to the JVC which will invest in a modern manufacturing facility in India. The entity will service the key markets of SAARC (excluding Pakistan) and Myanmar.
“The joint venture is in line with Pidilite’s strategy of building its market position in pioneering categories. There is an excellent value match between Pidilite and Grupo Puma to meet the future needs of customers for quality products. The Grupo Puma core competence lies in innovation in both technology and R&D, and in delivering outstanding technical service to customers” Mr. Bharat Puri, Managing Director, Pidilite Industries Limited, said.