Adhesives and paint major Pidilite Industries is planning to expand its base by acquiring majority stakes in companies in Europe and the U.S.

Jairaj Hegde, Chief Sales and Marketing Officer of the company confirmed the development and said, "Yes, we are holding discussions with some European and US companies to acquire majority stakes in them."

Pidilite Industries Limited provides craftsmen products, do-it-yourself products, and industrial specialty chemicals in India. It operates in two segments, Branded Consumer and Bazaar Products, and Specialty Industrial Chemicals.

The company presently has seven manufacturing facilities each in India and overseas markets. It sells products to over 100 countries across the globe.

Yesterday, the company has launched a heat-reducing exterior coating chemical, Dr Fixit Heatshield, which is developed with the aim to bring down inside temperature by about 5-6 degree centigrade than the outside temperature.