Soudal enters into JV with McCoy to expand into Indian market
March 23rd, 2010, Soudal Belgium, a world leader in sealants, foams, adhesives and other related building materials serving industrial, construction and consumer markets, today entered into a 50:50 joint venture agreement with McCoy Silicones Ltd. McCoy pioneered the growth, development and awareness of sealants, adhesives and foams in India over the last decade and became a sealing and bonding specialist and one of the key players in the Indian market. 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. Terms of the transaction are not disclosed.
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Pic. 1: Signing the Joint Venture |
Pic. 2: The new logo |
Click here for the High Resolution pictures.
“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” stated Soudal’s Chairman Vic Swerts.
“By integrating Soudal’s 44 years of experience in Sealants, Adhesives & Foams, R&D developments & global manufacturing base, we believe the joint venture will be able to offer the largest range of sealants, adhesives & foams in the Indian subcontinent. This project being the first & largest of its kind in
India will make a new milestone in the Indian industry.” stated McCoy’s Managing Director Amit Malhotra.
Soudal Company Profile:
Soudal is
Europe’s leading independent manufacturer of sealants, PU-Foams and adhesives. The company was established in 1966 by Mr Vic Swerts. In 2009 the turnover was over 300 million EUR and actually Soudal employs over 1.200 people. Soudal’s head office and main production plants are based in
Turnhout,
Belgium. In addition Soudal has production sites in
Germany,
France,
Poland,
USA and
Chile and operates 30 international subsidiaries with local staff and warehouses in most European countries as well as in
USA,
South Africa,
China,
Kazachstan,
Singapore,
Chili,
Peru and
Colombia and works closely with national distributors in a large number of other countries.
McCoy Company Profile:
McCoy markets products from silicones textile chemicals over sealants & adhesives to glass processing machinery, insulating glass materials, architectural specialty products, expansion joints systems, architectural building hardware and many more. With the growth of Sealants & Adhesives in
India and the track record as brand promoter, McCoy reached a level of corporate excellence with seven offices in
India, two overseas & three sourcing offices globally employing more than 120 people. McCoy Group has expanded vertically over the last decade and has diversified into a variety of products and services related to key industry areas: Automotive, Industry & Construction.