Thursday, January 16, 2025

Pidilite Industries buys some assets of CIC Holdings

Monday, November 30, 2015, 14:28
This news item was posted in Business category and has 0 Comments so far.

NEW DELHI: Adhesives and industrial chemicals maker Pidilite Industries Ltd has acquired Chemifix trademark and other brands associated with PVAC adhesives business from Sri Lanka-based CIC Holdings Plc. Pidilite Lanka Pvt Ltd (PLPL), a step down subsidiary of the company has also acquired the commercial and technical knowhow relating to PVAC Adhesive business from CIC Holdings. “PLPL… has acquired from CIC Holdings PLC, Chemifix trademark and other brands associated with PVAC Adhesives business alongwith the commercial and technical knowhow relating to PVAC Adhesive business,” Pidilite Industries said in a BSE filing. CIC Holdings is a large conglomerate in Sri Lanka and is involved in number of segments in Sri Lanka such as chemicals, fertilisers, pharmaceuticals, agri chemical and food products etc. Pidilite’s wholly owned subsidiaries, Pidilite International Pte Ltd and Pidilite Middle East Ltd, hold 76 per cent of the paid up capital in PLPL.

You can leave a response, or trackback from your own site.

Leave a Reply