Pulvitec do Brasil (http://www.pulvitec.com.br/) has been acquired by Pidilite do Brasil, a subsidiary of Pidilite Industries India. Pulvitec has consistently maintained its number 2 position in Brasil market for the product segments of consumer adhesives and maintenance products catering to construction, and industrial segments. The company is operational since 1972. Pulvitec has one of the largest distribution networks in Brasil, with its products available/sold at over appx 50,000 number of sales points. The turnover of the company in 2006 was about 29 million dollars. Pulvitec has its own manufacturing plant in the city of Sao Paulo in the neighborhood of Jaguare. The company has over 180 employees. With this acquisition Pidilite now has a significant market presence in Brasil, and is in 2nd position in most of its product segments. Pulvitec will provide a launch pad for Pidilite to capture significant market share in its segment of products in entire Latin American market.
Pidlite India has a turnover of over 350 million dollars and has presence in USA, Singapore and Middle east, Russia, Indonesia and south africa.
The acquisition was completed on 3 July 2007. Credit for this goes to Satya Muley, chief of Latin American operations in Brazil, who has worked on this acquisition for the last several months.
Congrats Satya !