Pidilite arm picks 49% in Jupiter Chemicals

Pidilite Industries, manufacturer of adhesives and industrial chemicals, today said its wholly owned subsidiary Pidilite Middle East in Dubai has acquired 49% stake in Dubai-based Jupiter Chemicals (JCL).

The company's wholly owned subsidiary in the Jebel Ali Free Zone, Dubai has acquired 49% stake in JCL incorporated in Dubai on June 28, 2005, Pidilite informed the BSE.

JCL will promote the company's range of products in Gulf Cooperation Council Countries. Simultaneously JCL has also made foray into construction chemicals business by acquiring assets of an existing company in Dubai, it added.