Petrochemical
Pidilite completes acquisition of Huntsman India's retail business subsidiary
HAMSPL has now become a 100% subsidiary of the Pidilite
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By ICN Bureau | November 04, 2020
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.
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