MILAN, Sep 18 (Class Editori) – The 'piastrella valley' – the Reggio-Modena ceramic area – opened to the large Indian market thanks to Litokol, a company based in di Rubiera (Reggio Emilia), active for over 50 years in the production of adhesives, sealants and special products for ceramics and ceramics. building.
Luciano Cottafavi, president of the company, has signed a joint venture agreement in India with the chemical group Pidilite Industries Ltd, listed on the Mumbai stock exchange, with the aim of producing epoxy, polyurethane and other bicomponent reactive compounds for the industry ceramics and construction, a sector in which Litokol has an international leadership position, thanks to the quality of its products and the strong innovative drive in Research and Development.
Litokol, active since 1968, invoices around seventy million euros with 350 employees, while Pidilite Industries is a giant with an annual turnover of nearly a billion euros. Litokol launches the new strong challenge of the experience already developed in Russia, in China and in over 90 markets where it exports its range of installation solutions.
With an initial investment of around 4 million euros, the two partner companies set up a NewCo based in Mumbai, which will operate in co-branding and will develop targeted and specific products for the Indian continent. In response to this transfer of Italian know-how and technology, Pidilite Industries will deal exclusively with commercial distribution on the Indian market, thanks to its consolidated network and the expansion of the Roff brand range, specializing in ceramic products and building.
"The opportunity that Pidilite Industries has offered us for the setting up of a joint venture in India represents another fundamental step for the development of Litokol in the main world markets, at a time when our competitive position in Russia, China and the United States continues to consolidate," explained Cottafavi.
"Entrusting our experience and our technology to Pidilite, as a best in class partner in such a relevant and competitive market, makes us proud of the success that our high-end products are achieving in the world. In a long-term perspective, this result is the most concrete recognition for cutting-edge research and development, aimed at our reference sectors, in a world that today more than ever rewards specialization and innovation."
"The collaboration with Litokol is in line with Pidilite's ambitions to continuously improve its already solid market position in all the segments in which it is present," added Bharat Puri, CEO of Pidilite Industries Limited, "Pidilite's leadership is in different segments of consumer products, with extremely well-known brands, developed and built to meet specific requirements of the local market. The synergy with Litokol will allow us to face, with an increasingly innovative range, the growing competition of the numerous multinational companies on the Indian continent".
Litokol has five production hubs: 3 in Italy, 1 in Russia and 1 in Armenia. The 2015-2018 three-year period saw the completion of an investment program of approximately 7 million euros in new buildings, plants and high-tech production lines, plus over 2 million euros in Research and Development.
One of the recent results is the ZERO project, acronym of Zero Environmental Risks in Our Buildings, which aims at developing a completely new generation of products (glues, grouts and bicomponent binders) based on epoxy resins, solid or liquid, with which the subject of safety is set in all its aspects. Developments are expected at the next Cersaie, in Bologna Fiere from September 23rd to 27th.
In China, the trading company of Shanghai started its activity in 2012 with a staff of 5 people and currently uses a logistic unit able to quickly manage and deal with any type of order, providing assistance technical and training necessary for local professionals. Located on the 33rd floor of a very modern skyscraper, in a commercial area near the heart of the metropolis, the company is the fulcrum to reach not only the Chinese market, but the whole Far East area.
(Source:Class Editori)
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