Sri Lanka’s CIC sells Chemifix trademark for Rs345mn

Nov 30, 2015 (LBO)Sri Lanka’s CIC Holdings, who have investments from agriculture to paints said it has sold its Chemifix trademark and other brands associated with its adhesives business along with technical and commercial knowhow to Pidilite Lanka (Pvt) Ltd for 345 million rupees.

In a stock exchange filling the company said that they would continue to manufacture the products for Pidilite Lanka for the next three years under a tolling agreement.

“The deal may be extended by mutual consent and CIC will also be the sole distributor for part of Pidilite’s adhesive and stationary range.”