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SRF to sell engineering plastics business to DSM

13 May 2019 Evaluate

SRF will sell engineering plastics business to DSM for Rs 320 crore as part of a strategy to focus on core operation. The transaction would enable the company to strengthen balance sheet and focus its efforts and resources on developing more-and-more complex technologies within the chemicals business.

The company has entered into a definitive agreement to sell its engineering plastics business to DSM, the life sciences and materials sciences company, in an all-cash transaction amounting to Rs 320 crore.

SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.

Peers
Company Name CMP
Godrej Industries 929.55
SRF 2354.95
BASF India 3165.45
Pidilite Inds. 1421.40
Tata Chemicals 602.60
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