Financial Daily from THE HINDU group of publications
Thursday, Mar 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 02, 2006 |
|
|
|
|
|
|
|
Corporate
-
Mergers & Acquisitions Pidilite acquires 75 pc stake in Thai company Deepak Goel
New Delhi , March 1 Pidilite Industries Ltd has acquired 75 per cent equity in Thailand-based Bamco, a bitumen based water-proofing products manufacturer. Mr Sanjay Bahadur, CEO, Pidilite Industries, told Business Line: "We have picked up equity in the firm in an all-cash deal. The deal helps us to gain from the superb technical know-how of the firm". However, Mr Bahadur declined to give the investment figure for the acquisition. The acquisition helps Pidilite to include in its portfolio some of Bamco's range of products in India that were missing until now, said Mr Bahadur. It would also enable Pidilite to market its existing products in Thailand. "Out of the 40-50 products we have currently, we plan to market around 15 products in Thailand after this entry in the country," he added.
Third acquisition
This is the third overseas acquisition by the company in the last one year, the earlier ones being Chemson in Singapore and UCC in Thailand. On global acquisitions, Mr Bahadur said, "We are looking at having a presence in other places also." The company also plans to roll out in the country several products next month, including wall and roof water proofing offerings and heat reflective coatings. "The heat reflective coating would find effective applications in industrial sheds and even on sun-facing walls of houses," he said. The company targets a turnover of Rs 100 crore for the current financial year, Rs 70 crore domestically and Rs 30 crore internationally. The company's scrip closed at Rs 94.30 on the Bombay Stock Exchange against Tuesday's closing of Rs 93.
More Stories on : Mergers & Acquisitions | Office Equipments & Supplies
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|