SYN-BIOS SpA and Pidilite Industries: agreement for India and neighbouring countries

The Montebello Vicentino chemical company has entered into an exclusive partnership with one of the largest Indian companies for the distribution of its products in India, Bangladesh, Nepal and Sri Lanka

It is a strategic agreement, fully operational from January 2024, the one entered into by SYN-BIOS SpA of Montebello Vicentino, a leading chemical company that has been serving tanning industries worldwide for more than 35 years. As part of further development on foreign markets - last year the export quota, for the first time in the history of the company, surpassed the Italian market in terms of turnover, with a current share of around 60-40%. 

The company owned by the Gastaldello family has stipulated an exclusive partnership with Pidilite Industries in order to further strengthen its presence in the territory, a market in which the Montebello Vicentino company has always been present.

Pidilite Industries Private Limited, an Indian company headquartered in Andheri, a suburb of the metropolis of Mumbai, with more than 22.5 million inhabitants, is one of the Indian economic giants , with an annual turnover of around 1.5 billion Euro, and is also listed on the Bombay Stock Exchange (BSE). Pidilite is a leading manufacturer of adhesives, sealants and construction chemicals since its foundation in 1959, and is one of the first Asian companies in the industry pioneering the field of chemicals in India.

Through this partnership, Pidilite Industries will manage the distribution of Syn-Bios products in several States including India, Sri Lanka, Bangladesh and Nepal. Both companies are committed to a mutual technical collaboration in order to offer complete solutions for the leather industry in a market where exports of footwear, leather goods and leather products show significant growth potential.

“The collaboration with Pidilite Industries,” says Enrico Gastaldello, Vice President and Chief Commercial Officer of Syn-Bios, “will allow us to expand our penetration in that part of the Asian market. The presence and philosophy of Pidilite are in line with our innovative and high quality products. Together we therefore aim to set new benchmarks in the leather sector. Similar to Syn- Bios, we have a historical presence in India dating back to 1994, as it was one of the first major foreign markets where my father started selling in his time. The fact that our brand has already been known for 30 years certainly facilitated the agreement; at the Indian trade fair in Chennai at the beginning of February, we will obviously share the same stand in order to officially present the partnership to the market.”

“The partnership with Syn-Bios,” states Vikas Kulkarni, Chief Business Officer Industrial Products of Indian Industry, “will enhance and implement our range, allowing us to supply a wide list of products in the markets envisaged in the distribution agreement, through our established channels. Syn-Bios, known for its research and development in the chemical tanning industry, is a world leader in the field of high-performance pigments and inks.”

“The agreement with Pidilite,” continues Enrico Gastaldello, “is now operational, and there is a constant exchange of information every day.

Pidilite has realised that the tanning world is an extremely technical sector with specific requirements, which is why they have approached a company like ours, which in recent years has always and constantly raised the bar in terms of quality and sustainability. The greatest satisfaction lies in the fact that it was such a giant that came to us for this venture in and around India. The approach was in any case soft and absolutely non-invasive; they immediately explained their specific requirements to us, while we first wanted to understand what the possible partnership would consist of. In the end we found, to our mutual satisfaction, a complete agreement.”

“There are considerable growth expectations in that area of the East,” adds Enrico, “although it is currently impossible to quantify precisely what the growth percentage will be. The agreement guarantees exclusivity, on both sides: our company cannot operate in the selected countries without going through the channels of Pidilite, while the latter has undertaken to officially represent only our products. Pidilite is organised in a truly extraordinary manner - not only because of its well-prepared managers, but also because of its considerable strategic capabilities: being listed on the stock exchange, every financial transaction has to be clear, having to present the project to shareholders and partners. Their internal staff, extremely collaborative and prepared, has been largely involved in all the various stages.”

It was the quality of the product itself that was decisive in the choice of the most suitable partner, as Gastaldello himself confirms: “They told us explicitly that it was essential for them to find the ‘top’ quality in our chemical segment in order to have the security of handling excellent products. This certainly weighed on the fact that we were among the very first in the world to independently and immediately obtain Level 3 ZDHC certification. This aspect certainly weighed heavily, as the Indian company ascertained our concrete and factual commitment also from an environmental and sustainability point of view.”