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Pidilite Industries buys adhesives business of Suparshva, reports higher sales and profits

12:41 PM MDT | August 13, 2013 | Natasha Alperowicz

Pidilite Industries (Mumbai) said today that its board of directors has approved the acquisition of the adhesive business of Suparshva Adhesives (Pune). “The slump sale agreement includes brands, know-how and other assets pertaining to the adhesive business,” Pidilite says. The gross revenue for the year ended 31 March 31, 2013 of the business being acquired is less than 1% of the company’s turnover.   Pidilite today also reported its sales and earnings for the quarter ended 30 June. Net profit was up 26% to 1.61billion rupees ($26.2...

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