Anabond India bonds with UK firm

  1. Chennai-based Anabond, manufacturer of industrial adhesives and sealants, has entered into a joint venture with HS Butyl, UK to manufacture butyl tapes in the country. Butyl tapes find wide application in the automotive, prefab construction, aviation and energy segments. The joint venture agreement, with 50:50 equity stake, was inked on Monday evening. The new company Anabond Butyl Private will be based out of Chennai. Established in 1979, Anabond has manufacturing units in Chennai, Pondicherry and Meghalaya.The Hampshire-based HS Butyl is a second-generation business that has five decades of experience in manufacturing butyl tapes and in developing formulations for various applications. It has an established marketing and distribution set up across several countries. “A new plant will now be established by the joint venture company at Thirumudivakkam near Chennai and it will attract investment to the tune of about Rs 15 crore in stages,” E Srinivasan, director of operations, Anabond Butyl told FC.

2015-05-05 10:41:28