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Atul Ltd acquires India’s leading Rubber & PU based adhesive brand Polygrip

Published on 2010-06-25. Author : SpecialChem

Mumbai, India -- Atul Ltd, a Lalbhai Group Company has acquired Polygrip - India's leading Rubber & PU based adhesive brand. Polymers Division of Atul that manufactures and markets Epoxies, Adhesives and Sealants under the brand LAPOX has bought Polygrip brand. This acquisition will give Atul a ready access to Rubber and PU based adhesives market in India. The synergetic acquisition by Atul - a large manufacturer with growing marketing network will boost confidence of the existing customers of Polygrip.

Mr Rajesh Bhasin, President, Polymers, Atul while commenting on this acquisition said, "Polygrip compliments the current Lapox range of adhesives and there will be no cannibalisation of any of our existing products. We will focus on strengthening the Polygrip brand in the Industrial| Institutional business by enhanced focus in the various market segments such as Automobile, Footwear, Furniture, Upholstery, Ducting, Carpet, Luggage, OEMs & others by upgrading the product portfolio and introducing customised products for various industries. On the retail front we plan to focus on the Hardware | Foam retail markets which offer immense potential for growth for Polygrip."

Mr Kirti Mehta, the Founder of Polygrip brand said, "Polygrip was scouting for a strategic partner to grow in Indian and overseas markets. Atul will utilise the LAPOX sales and marketing network to promote Polygrip in the retail markets across India. There are plans to bring in more eco friendly products such as water based Rubber and PU adhesives which cater to the stringent norms. I foresee high growth with Atul."

Talking about the Brand business of Polymers Division, Mr Rajesh Bhasin, President, Polymers, Atul informed, "We currently have 20 Brands, 30 Products and 93 SKUs. We have over 250 distributors strategically located all across India. In the next three years Brands business of Polymers Division of Atul alone will have sales crossing Rs 100 cr. Our Product portfolio will have more than 50 brands. The Pan India distributor network will be 700 plus strong and the sales staff would be more than 200. We are expanding into International markets as well. I am confident that by the year 2013-14 Lapox will be a dominant brand in India."

Atul has strong competencies in R&D. Manufacturing capabilities of all major chemical process are available at Atul. It ensures effective technical support with motivated and committed manpower. Polymers Division offers world class quality and range in Epoxy, Adhesives & Sealants at competitive prices. Acquisition of Polygrip adds another feather in the cap of LAPOX and an entry into a new vertical of Rubber & PU based adhesives.

About Polygrip:

Polygrip is a 34 year old brand name that started off as a make to order industrial product. The brand was founded by Mr Kirti Mehta, a B Sc (Chemistry) with Masters in Polymer Chemistry from the State University of NY, Plattsburg, USA. Polygrip has more than 50 different industrial grades making it one of the most versatile and complete range of Rubber & PU Adhesives.

Polychloroprene based Rubber adhesives are popularly known as contact adhesives. There are two major product groups Solvent based rubber adhesives and Solvent based PU adhesives. Rubber adhesives are used to Bond substrates such as Leather, Foam ,Rubber in Automobile, Footwear, Furniture, Upholstery, Ducting, Carpet, Luggage, Engineering and many more industries.

Rubber and PU based adhesive market is estimated to be around Rs. 500 Crore | annum in India for these applications. Polygrip has a market share of 10% in the market segments that it operates in. The customer turn around percentage is as low as 0.5%. So it can be proudly said that 'Customers Stick to Polygrip'.

With a PAN-India network of almost 25-30 distributors, Polygrip range of adhesives are available in most parts of the country and accepted very well as one of the top three brands of Rubber and PU adhesives.

About Atul Limited :

Atul Ltd is a member of Lalbhai Group - one of the oldest business houses of India. Atul Ltd provides innovative chemistry and manufacturing solutions to Agriculture, Automobile, Construction, Cosmetic, Food & Beverage, Fragrance, Marine, Packaging, Paper, Pharmaceutical, Textile and other industries.

Atul Ltd has seven Businesses - Aromatics, Bulk Chemicals & Intermediates, Colors, Crop Protection, Floras, Pharmaceuticals & Intermediates and Polymers. Atul Ltd - incorporated in 1947 is spread over 1400 acres of land. Its registered office is in Ahmedabad and its corporate headquarters are located in Atul, Gujarat.

The Company is listed on the bourses in India and has over 35,000 shareholders. Atul also has offices in the USA, the UK, Germany, China and Vietnam that service its international customers.

The Group is also strongly committed to serve the society in the fields of education, health as well as culture.

Source: Atul Ltd


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