MUMBAI, India (June 28, 2010)—Atul Ltd. has acquired Polygrip—India's leading rubber- and polyurethane-based adhesive brand.
Atul said the acquisition will give the firm ready access to the rubber-and-polyurethane-based adhesives market in India.
Polygrip is a 34-year-old brand name that started off making industrial products to order. The brand has more than 50 different industrial grades.
Polygrip said India's rubber-and-polyurethane-based adhesive market is estimated to be about $110.5 million each year. Polygrip has a market share of 10 percent in the market segments where it operates.