Pidilite buys 75% stake in Chemson Asia

Mumbai, Jan 27 | Updated: Jan 28 2005, 05:30am hrs
Pidilite Industries Ltd on Thursday said that it has acquired a majority stake in Singapore-based Chemson Asia Pte Ltd. Pidilite bought a 75% stake in Chemson for an undisclosed sum through its unit, Pidilite International Pte Ltd, the company has informed The Stock Exchange, Mumbai (BSE).

Chemson manufactures waterproofing coating and emulsion plants. Pidilite owns the popular brand adhesive, Fevicol. Pidilite operates in two main segments: the consumer and bazaar products segment, which contributes 70% to sales; and the industrial products segment that chips in with the rest. Pidilite boasts of strong brands such as Fevicol and M-Seal. In the branded consumer and bazaar products segment, the companys products include adhesives, sealants, art materials and construction and paint chemicals. In the industrial speciality chemicals business, products include industrial adhesives, synthetic resings, organic pigments, pigment preparations, surfacants which are consumed by various indusries like packaging, textile, paints, printing ink. paper and leather.