McCoy Silicones Ltd. (a McCoy Group Company), which pioneered the growth, development and awareness of sealants, adhesives, and foams in India over the last decade and is a key player in the Indian market, announced that it has entered into 50:50 joint venture agreement with Soudal NV Belgium, a leader in sealants, foams, adhesives, and other related building materials. The new venture, McCoy Soudal Sealants Adhesive & Foams Pvt. Ltd. will manufacture, service and supply sealants, adhesives, and foams in the Indian market under the co-brand McCoy Soudal.
“By leveraging McCoy’s leadership status, established network and marketing expertise in the Indian marketplace, we believe the joint venture will enable both parties to expand their respective positions in the vibrant and growing Indian marketplace, and to participate in India’s continued emphasis on construction and infrastructure development,” said Vic Swerts, Soudal chairman.
“By leveraging Soudal’s 44 years of experience in sealants, adhesives and foams, worldwide presence, R&D developments, and global manufacturing base, we believe the joint venture will be able to offer the largest globally available range of sealants, adhesives, and foams in the Indian subcontinent,” said Amit Malhotra, managing director of McCoy. “This project being the first and largest of its kind in India will make a new milestone in the Indian industry.”
For more information, visitwww.soudal.comorwww.mccoygroup.in.
McCoy Silicones and Soudal Sign Joint Venture Agreement
May 25, 2011