New Delhi: Godrej Industries Ltd on Monday said its chemicals business unit has agreed to acquire a unit of Shree Vallabh Chemicals in Kheda, Gujarat, with an estimated investment of Rs 45 crore.
Godrej Industries said in a regulatory filing that the company's chemicals business has signed a business transfer agreement with Shree Vallabh Chemicals Unit II (Kheda) with the intention to acquire their ethoxylation unit II.
It said the transaction will help the company expand its product offering by adding ethoxylation technology to its portfolio of process and batch technologies.
The filing said Shree Vallabh Ethoxylation Unit II has a manufacturing capacity of 24,000 MTPA (million tonnes per annum) of finished products.
On the estimated amount to be invested, Godrej Industries said it would be around Rs 45 crore.
"...the proposed acquisition of the unit will help us expand our offerings and also cater to new applications for our customers. While enabling us to accelerate investment timelines, we are confident that it will also provide us with various cost synergies. Will do." said Vishal Sharma, Executive Director and CEO, Godrej Industries (Chemicals).
Godrej Industries said in a regulatory filing that the company's chemicals business has signed a business transfer agreement with Shree Vallabh Chemicals Unit II (Kheda) with the intention to acquire their ethoxylation unit II.
It said the transaction will help the company expand its product offering by adding ethoxylation technology to its portfolio of process and batch technologies.
The filing said Shree Vallabh Ethoxylation Unit II has a manufacturing capacity of 24,000 MTPA (million tonnes per annum) of finished products.
On the estimated amount to be invested, Godrej Industries said it would be around Rs 45 crore.
"...the proposed acquisition of the unit will help us expand our offerings and also cater to new applications for our customers. While enabling us to accelerate investment timelines, we are confident that it will also provide us with various cost synergies. Will do." said Vishal Sharma, Executive Director and CEO, Godrej Industries (Chemicals).
