Pidilite Industries completed the acquisition of the DIY consumer adhesives business of Huntsman for $285m.

Pidilite Industries, an Indian adhesives manufacturing company, completed the acquisition of the DIY consumer adhesives business of Huntsman, an American multinational manufacturer and marketer of chemical products, for $285m. "We have taken this business and built it from almost nothing to be a market leader in India. To take it to the next level of size and value, we simply do not have the footprint in India to do so. Pidilite is a respected leader in consumer adhesives within India and is in a better position to invest in and more aggressively grow this consumer DIY business over the coming years. We anticipate within the coming months that we will be able to deploy the proceeds from this asset and replace the lost EBITDA with other growth assets that fit even better within our core Advanced Materials specialty business," Peter Huntsman, Huntsman Chairman, President and CEO.