Apar Industries has received an approval for acquisition of 47.5% stake amounting to 3,214,444 equity shares of Rs 10 each in the joint venture company, Apar ChemateK Lubricants (ACLL), an unlisted company. The board at its meeting held on August 17, 2012 has approved for the same.
Upon completion of the transaction, the shareholding of the company in ACLL will increase to 97.5% from the present 50.00% and ACLL shall become subsidiary of the company.
Apar Industries is one of the established companies engaged in the manufacture of transformer and other specialty oils and transmission and distribution overhead conductors. Its manufacturing facilities at Rabale, Silvassa and Nalagarh have a total installed capacity of 372,773 MT for transformer oils, 103,679 MT for conductors and 86,600 MT for aluminium rod.
