Valsus, India -- Chemicals and polymers manufacturer Atul Ltd has acquired adhesive brand Polygrip. Atul says Indian company Polygrip is a leading rubber and polyurethane based brand, which will complement Atul's current epoxy range.
In an interview with CNBC-TV18, Rajesh Bhasin, Atul's president, said the Polygrip business is a strategic fit for Atul and offers potential to exploit the total market in this segment.
Bhasin said 2009's revenue for Polygrip was about Rs 30 crore, and commented that Atul is looking at doubling the capacity and sales over two to three years. Atul is based in Valsud, in Gujurat state and had total sales in the year ending 31 March 2010 of Rs 1226 crore.
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