Gujarat Fluorochemicals has entered into an agreement for sale of its stake in its Joint Venture Company (JVC) - Xuancheng Hengyuan Chemical Technology Company, China. In view of the same, Xuancheng Hengyuan Chemical Technology Company, China will cease to be a JVC of Gujarat Fluorochemicals on receipt of approval from the relevant regulatory authorities and transfer of Gujarat Fluorochemicals’ shareholding in the JVC.
Gujarat Fluorochemicals, part of the $2 billion INOX group of companies, is engaged in manufacturing of chloro-fluorocarbon refrigerant gases and hydrous hydrofluoric acid. The INOX group has interests in areas of industrial gases, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment.
