Pidilite Industries will acquire 70 per cent equity stake in CIPY Polyurethanes for ₹96.4 crore. The acquisition would enable Pidilite Industries to participate in the growth of the resin flooring and floor coatings market.
CIPY Polyurethanes is engaged in the business of manufacture and sale of floor coatings using polyurethanes, epoxies, polyurea and polyaspartic polymers. The turnover of CIPY Polyurethanes during financial year 2016-17 stood at ₹110.40 crore.