Indian company in a joint venture to commission state-of-the-art manufacturing plant in Sri Lanka
India’s Pidilite Industries Limited has through a joint venture has formed Pidilite Lanka (Private) Limited and has commissioned a state-of-the-art manufacturing plant at Polgahawela in Sri Lanka’s North Western Province.
The company has several well-known brands in Sri Lanka and they include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced range of waterproofing solution for healthy homes.
In 2015, Pidilite Lanka acquired Chemifix, Sri Lanka’s leading white adhesive brand in wood working, stationery and industrial segments.
“These brands reflect the company’s objective to become an even more customer-centric and performance oriented organization in Sri Lanka,” the Company has said in a statement.
This opening was attended by his Excellency Taranjit Singh Sandhu, India’s High Commissioner in Sri Lanka, Bharat Puri, Managing Director of Pidilite Industries, Rohan De Silva, Chairman of McLarens Group, and many other dignitaries.
“This investment is a testament to our commitment to the Sri Lanka market,” Bharat Puri has said.
OSL take:
The formation of Pidilite Lanka is yet another joint venture between Sri Lankan and Indian business ventures. As stated by the Managing Director of India’s Pidilite Industries, Bharat Puri, the commissioning of the latest state-of-the-art manufacturing plant in Sri Lanka is a testament to the Indian company’s commitment to the Sri Lankan market. This poses a positive precedent to other Sri Lankan as well as Indian businesses to explore possibilities of forming joint ventures to expand their operations in the region.
| Article Code : | VBS/AT/20170716/Z_5 |