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Pidilite Industries has entered into a joint venture with Litokol, a leading tile adhesives and epoxy grout manufacturer from Italy. The JV company will invest in a new manufacturing facility in India. Litokol will transfer the technology to the JV, while Pidilite will have exclusive distribution of the JV products. This JV will provide a comprehensive array of products ranging from epoxy, to urethane grout and certain epoxy adhesives for tile application. The JV entity will service the key markets of SAARC (excluding Pakistan) and Myanmar. Shares of Pidilite Industries closed 0.58 per cent lower at ₹1,343.15 on the BSE.
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