Godrej Industries' Chemicals Business acquires Business of Savannah Surfactants Limited

Godrej Industries' Chemicals Business today announced the completion of a Business transfer with Savannah Surfactants Limited, with the acquisition of their Food Additives Business. As a leading player in Oleochemicals, Surfactants, Specialities and Biotech sectors, this transaction will help the company expand its product offerings to the Food & Beverages Industry globally.

Vishal Sharma, Executive Director and Chief Executive Officer, Godrej Industries (Chemicals) said," We are glad to have completed this transaction at the start of the fiscal year. This acquisition is in line with our vision and strategy to grow in a profitable and sustainable manner. The Savannah business will be part of our Speciality chemicals sector. The addition of this Food Additives Business will expand our speciality offerings and build a larger speciality business going forward."

Located at Goa, Savannah Surfactants Limited has a manufacturing capacity of 5,200 MTPA of finished products.

Shares of Godrej Industries Limited was last trading in BSE at Rs. 1135.80 as compared to the previous close of Rs. 1109.90. The total number of shares traded during the day was 9055 in over 885 trades.

The stock hit an intraday high of Rs. 1148.40 and intraday low of 1100.00. The net turnover during the day was Rs. 10204563.00.

Source : Equity Bulls

Keywords

GodrejIndustries INE233A01035 ChemicalsBusiness Acquisition SavannahSurfactants FoodAdditivesBusiness