Atul buys Indian adhesive maker, Polygrip

ERJ staff report (DS)

Mumbai, India -- Atul Ltd, a Lalbhai Group Company has acquired Polygrip - India's leading Rubber & PU based adhesive brand. Atul said the acquisition will give Atul ready access to Rubber and PU based adhesives market in India.

Polygrip is a 34 year old brand name that started off making industrial products to order. The brand was founded by Mr Kirti Mehta. It has more than 50 different industrial grades making it one of the most versatile and complete range of Rubber & PU Adhesives.

Polygrip said India's rubber and PU based adhesive market is estimated to be around Rs. 5000 million (euro 90 million) each year. Polygrip has a market share of 10% in the market segments where it operates.

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Press release from Atul