Pidilite to buy Huntsman India

Pidilite Industries, the manufacturers of the popular Fevicol brand of adhesives, proposes to acquire the US-based Huntsman Group’s Indian subsidiary for Rs. 2,100 crores.

Huntsman operates a 100% subsidiary in the country (Huntsman Advanced Materials Solutions) which directly competes with Fevicol, who manufactures and sells adhesives, sealants and other products under brands such as Araldite, Araldite Karpenter and Araseal.

The deal also includes the company’s Indian subcontinent business, apart from a trademark licence for the Middle East, Africa and ASEAN countries, a statement added.

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