The Hindu : Business : Pidilite eyeing companies in U.S., Europe

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Saturday, May 17, 2008
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Pidilite eyeing companies in U.S., Europe

Special Correspondent

NEW DELHI: Pidilite Industries on Friday said it is planning to expand its base by acquiring majority stakes in companies in Europe and the U.S. and is actually talking to some of them.

“Yes, we are holding discussions with some European and U.S. companies to acquire majority stakes in them,” Pidilite Industries Chief Sales and Marketing Officer, Jairaj Hegde, told reporters when quizzed in this regard on the occasion of the launch of a heat reducing exterior coating chemical, Heatshield which helps bring down inside temperature by about 5-6 degree centigrade than the outside temperature. As of now, the company was present in the Asian countries, West Asia and the African continent, he said, adding that “we want to expand our bases to more countries and new markets”.

It now has seven manufacturing facilities each in India and overseas markets. It sells products to over 100 countries across the globe.

Dwelling on the new outer coating, he said, “The new Dr. Fixit Heatshield is designed for the Indian climate and can withstand extreme heat. It can provide protection against ultra violet and infra red radiation”. The coating has a ten-year lifecycle.

He said the construction chemical division of the company recorded sales of Rs. 120 crore during the last financial year.

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