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Pidilite Industries , a leading manufacturer of adhesives, sealants and construction chemicals in India, has entered into a joint venture with Corporacion Empresarial Grupo Puma SL (Grupo Puma), a leading technical mortars manufacturer based in Spain to establish a joint venture company in India.
This joint venture will provide a comprehensive array of technical mortars for wide applications ranging from flooring, wall plasters, textured wall plasters, decorative plasters and insulation.
Grupo Puma will license the technology to the joint venture company which will invest in a modern manufacturing facility in India. The entity will service the key markets of SAARC (excluding Pakistan) and Myanmar.
Bharat Puri, Managing Director, Pidilite Industries said the joint venture is in line with Pidilite’s strategy of building its market position in pioneering categories and offer future products for customers.
The Grupo Puma core competence lies in innovation in both technology and R&D, and in delivering outstanding technical service to customers, he said.
Francisco Jimenez, CEO of Grupo Puma said the joint venture reinforces the commitment towards the internationalisation of Grupo Puma by the presence in a country with enormous growth potential, along with Pidilite a recognised leader in its category.
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