Godrej Industries' Chemicals Business signs agreement to acquire Unit II of Shree Vallabh Chemicals, Kheda

Godrej Industries' Chemicals Business today announced the signing of a Business transfer agreement with Shree Vallabh Chemicals Unit II (Kheda), with the intention to acquire their Ethoxylation Unit II. As a leading player in Oleochemicals, Surfactants, Specialities and Biotech, this transaction will help the company expand its product offerings by adding the Ethoxylation technology to its portfolio of process and batch technologies.

Vishal Sharma, Executive Director and Chief Executive Officer, Godrej Industries (Chemicals) said, "Aligned with our commitment to growth and innovation, the proposed acquisition of the unit will aid us in expanding our offerings and also cater to new applications for our customers. By enabling us to accelerate the investment timeline, we are confident that it will also provide us with various cost synergies."

Located at Kheda, Gujarat, the Shree Vallabh Ethoxylation unit II has a manufacturing capacity of 24,000 MTPA of finished products.

Shares of Godrej Industries Limited was last trading in BSE at Rs. 887.75 as compared to the previous close of Rs. 898.30. The total number of shares traded during the day was 20584 in over 2134 trades.

The stock hit an intraday high of Rs. 912.00 and intraday low of 886.05. The net turnover during the day was Rs. 18531589.00.

Source : Equity Bulls

Keywords

GodrejIndustries INE233A01035 ChemicalsBusiness Acquisition Ethoxylation Unit2 Kheda ShreeVallabhChemicals