Mumbai: Adhesive-maker Pidilite Industries announced on November 8 its intention to venture into the lending sector, underscoring a commitment to offering credit through small retail loans.
Pidilite Industries to sell Brazilian operations
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India-based adhesive manufacturer Pidilite Industries is reportedly planning to sell its operations in Brazil.
The company has started negotiations with adhesive manufacturing companies in Brazil for the sale, and appointed investment bank Lincoln International to advise it on the process, reported Livemint.
Pidilite spokesperson said: As a matter of policy, Pidilite does not comment on market speculations. The economic environment in Brazil and Egypt could have an adverse impact on the company’s subsidiaries.
Pidilite runs 14 subsidiaries overseas, with operations in the US, Brazil, Thailand, and Dubai.
The company offers adhesives and sealants, construction and paint chemicals, automotive chemicals, art materials, industrial adhesives, industrial and textile resins, and organic pigments and preparations. Its popular brands include Fevicol, Dr Fixit, Cyclo, Hobby Ideas, Roff, and M-Seal.