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Pidilite unveils state-of-the-art adhesive manufacturing plant in Bangladesh

Posted On: 2019-08-22 18:08:00

A state-of-the-art manufacturing plant of Pidilite Speciality Chemicals Bangladesh Private Limited (PSCBL) was formally commissioned at Bhaluka in Mymensingh on Wednesday, August 21, 2019. The facility was inaugurated by Mr. Bharat Puri, Managing Director of Pidilite Industries Ltd.

Pidilite Speciality Chemicals Bangladesh Private Limited (PSCBL) is a subsidiary of Pidilite Industries Ltd, a leading manufacturer of adhesives, sealants and construction chemicals. This will be PSCBL's second plant in addition to the existing plant at Munshigonj in Bangladesh. Pidilite began its journey in Bangladesh 15 years ago and today is one of its focus international markets. Pidilite currently has operations in more than 70 countries with 8 facilities outside India, including the ones in Bangladesh.

Pidilite has earmarked over BDT 550 million as an investment towards the plant; spread over 5.9 acres, the plant will further strengthen Pidilite's position in the adhesive market in Bangladesh and enhance its market presence. The new plant will manufacture leading brands such as Fevicol SH, Fevicol Speedx, Fevicol Marine, Pigment Emulsion, Piditint, and White Emulsion for the local market. This will be an environment-friendly plant with zero-discharge.

Commenting on the inauguration of the new plant, Mr. Bharat Puri, MD, Pidilite Industries Ltd, said: "Bangladesh is an important market for Pidilite, over the last 15 years; we have offered innovative solutions that have helped us build trust with trade and consumers. The new facility is a testament to our commitment to this market. Fevicol is a household name in Bangladesh and our new plant will help us strengthen our existing manufacturing capacity for the Fevicol adhesive range. With our new manufacturing facility, Pidilite will be the first major manufacturer of pigment emulsions in Bangladesh and will provide solutions to local textile, footwear, paper & packaging applications."

Pidilite's well-known brands in Bangladesh include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced range of waterproofing solution for healthy homes. The quality fabric glues under Fevicryl brand, sealant brand M-Seal, instant adhesive Fevikwik and extensive stationery range like Fevicol MR & Fevistik are also close to the consumers' hearts.

Shares of PIDILITE INDUSTRIES LTD. was last trading in BSE at Rs.1363.4 as compared to the previous close of Rs. 1366.7. The total number of shares traded during the day was 19552 in over 771 trades.

The stock hit an intraday high of Rs. 1369.5 and intraday low of 1347. The net turnover during the day was Rs. 26584279.

Source: Equity Bulls

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