MoneyWorks4Me

Kanoria Chemicals & Industries to enter into automotive component business

23 Apr 2012 Evaluate

Kanoria Chemicals & Industries is planning to enter into the automotive component business by acquiring 90% stake in Switzerland-based APAG Holding AG for over Rs 44 crore. The balance 10% stake will be acquired by 2014 on the basis of a pre-fixed pricing formula.

APAG Holding AG is the holding company of APAG Elektronik that develops and sells electronic and mechatronic modules and control devices for the automotive, consumer goods, power tool electronics and building automation industries.

Peers
Company Name CMP
Godrej Industries 1104.15
SRF 2530.50
BASF India 3539.75
Pidilite Inds. 1511.00
Tata Chemicals 644.10
View more..