Godrej Industries Ltd said that its chemicals business unit has agreed to acquire a plant of Shree Vallabh Chemicals in Kheda, Gujarat, for an estimated Rs 45 crore. Godrej Industries said in a regulatory filing that its chemicals business has inked a business transfer agreement with Shree Vallabh Chemicals Unit II (Kheda) with the goal of acquiring their Ethoxylation unit II.
This deal will allow the company to broaden its product offerings by adding Ethoxylation technology to its portfolio of process and batch technologies, it stated. The Shree Vallabh Ethoxylation Unit II can produce 24,000 MTPA (million tonnes per annum) of final products, according to the application.
Godrej Industries projected that the amount to be invested would be roughly Rs 45 crore. The proposed acquisition of the unit will allow us to expand our products while also catering to new applications for our customers. We are certain that by allowing us to accelerate the investment timetable, we would be able to achieve different cost savings," stated Vishal Sharma, Executive Director and CEO of Godrej Industries (Chemicals).
Godrej Industries is the holding firm for the Godrej Group. They have large investments in consumer products, real estate, agriculture, chemicals, and financial services through our subsidiaries and associate companies in 18 countries.
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