Pidilite Industries Ltd has completed the acquisition of 100% stake in Huntsman Advanced Materials Solutions Private Limited (HAMSPL), on 3rd November 2020.

 

HAMSPL is now a subsidiary of the company.

 

The company had annonced the acquisition on October 29, 2020 for a purchase value of Rs. 2100 crore. 

 

HAMSPL manufactures and sells Adhesives, Sealants and other products under well-known brands such as Araldite, Araldite Karpenter and Araseal in India. In the calendar year 2019, business revenue was approximately Rs. 400 crore. In addition to the Indian Sub- Continent business, the acquisition includes a Trademark licence for Middle East, Africa and ASEAN countries.