Pidilite floats joint venture with Grupo Puma for technical mortars

Pidilite Industries has entered into a joint venture with Corporacion Empresarial Grupo Puma SL (Grupo Puma) to establish a joint venture company in India.

While the former is a leading manufacturer of adhesives, sealants and construction chemicals in India, the latter is a leading technical mortars manufacturer based in Spain.

The 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 joint venture company which will invest in a modern manufacturing facility in India. The entity will service the key markets of SAARC (excluding Pakistan) and Myanmar.

According to Bharat Puri, Managing Director, Pidilite Industries, the joint venture is in line with Pidilite’s strategy of building its market position in pioneering categories and offer future products for customers.

Image Credit : upload.wikimedia.org

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