Pidilite Industries Limited, an adhesive and sealant maker, is exploring possibilities in order to acquire majority stake in some companies in Europe and the United States.

Jairaj Hegde, Pidilite Industries Chief Sales and Marketing Officer, said, “...Yes, we are holding discussions with some European and US companies to acquire majority stakes in them.”

But Mr. Hedge didn’t provide any detail about the possible deal size and the name of the firms.

Presently, the company operates in the Asian countries, West Asia and the African continent.

The company plans to strengthen bases to more countries and new markets.

The company has seven manufacturing facilities each in India and foreign markets. It sells products to more than 100 countries throughout the world.

The company on Friday (May 17) rolled out a heat-reducing exterior coating chemical, Heatshield that is developed with the aim to bring down inside temperature by about 5-6 degree centigrade as compared to the exterior temperature.

The Group’s major activities include development, manufacture and distribution of chemicals and dyestuffs. The major business areas are Consumer and Bazaar products and Industrial products: The Consumer and Bazaar product segment includes adhesives, sealants, art materials, construction chemicals and paint chemicals. The Industrial product segment includes industrial adhesives, industrial resigns and organic pigments. These products are consumed by various industries such as packaging, textile, paint, printing ink, paper and leather.

The Group promotes its products under different brand names such as Fevicol, Cyclo, Hobby ideas, Dr. Fixit, roof and M seal.

Shares of the company, on Friday (May 16), closed up 0.97% at Rs 145 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 2,795.