Aarti Industries (AIL) has received board’s approval for composite scheme of arrangement between the company and Arti Surfactants (ASL) and Nascent Chemical Industries and their respective Shareholders. The Board of Directors of the company at its meeting held on June 28, 2018, approved the same.
The scheme of arrangement include the demerger of the home and personal care undertaking of AIL into ASL and subsequent listing of securities of ASL on the BSE and National Stock Exchange of India. Also, the demerger of the manufacturing undertaking of Nascent Chemical Industries into AIL.
Aarti Industries is one of the most competitive benzene-based speciality chemical companies in the world. It is a rare instance of a global speciality chemicals company that combines process chemistry competence (recipe focus) with scale-up engineering competence (asset utilization).