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After twelve years, the successful joint venture between Soudal and India's McCoy has come to an end. Soudal has now become the sole owner of the company, which is now called "Soudal India. The company will continue to expand its leading position in production and sales of mastics, adhesives and PU foams in India.
In 2010, McCoy-Soudal was launched in India as a well-structured 50-50 partnership between local McCoy and Soudal. McCoy has 25 years of expertise in techno-commercial services to meet the growing needs of Indian customers. For 12 years, the joint venture has successfully sold and manufactured Soudal products in India and in the South Asian Association for Regional Cooperation (SAARC) countries. Prior to this, an investment of INR 500 million (about EUR 6 million) was already made in 2012 to build Asia's largest production and R&D plant for sealants and adhesives in Bawal in India's Haryana. The ultra-modern plant of more than 1,800 m² allowed McCoy-Soudal to provide local sales, technical and logistical support in India. The products are used for many different applications, including automotive, telecom, windows and construction markets. Further investments in local production and warehousing are planned.
From now on, Soudal will be the sole owner of the subsidiary, which will operate under the name 'Soudal India'. Soudal chairman and founder Vic Swerts said, "In 2021, Soudal grew 22%, mainly through organic growth. Becoming sole owner of Soudal India is another important step forward in Soudal's successful future. We look forward to growing our successful business activities in India and will continue to provide the best possible products and services to customers in India.
