Borosil Glass Works has received an approval for entering into a Share Purchase Agreement, as per which the company will acquire entire 100% equity shares of Hopewell Tableware for Rs 27.03 crore. The board of directors at their meeting held on January 14, 2016 has approved for the same.
Hopewell Tablewar is a manufacturer and supplier of Opal Melamine & Bone China. The company will convert Hopewell Tablewar into its wholly-owned subsidiary and will infuse Rs 10.89 crore more in Hopewell Tableware.
Borosil Glass Works is the market leader for laboratory glassware and microwavable kitchenware in India.
