Updated: Feb 22
Adhesives firm Pidilite Industries on Tuesday said it has formed two joint ventures with Italy-based epoxy grout maker Litokol and spanish mortar company Grupo Puma.
The joint venture with Litokol will invest in a new manufacturing facility in India and service the key markets of SAARC (excluding Pakistan) and Myanmaar, said a statement.
Litokol will transfer the technology to the JV, while Pidilite will have exclusive distribution of the products, it added. This JV will provide products ranging from epoxy, urethane grout and certain epoxy adhesives for tile application.
Its partnership with Grupo Puma will provide mortars for wide applications ranging from flooring, wall plasters, textured wall plasters, decorative plasters and insulation.
Grupo Puma will license the technology to the JV, which will invest in a modern manufacturing facility in India.