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.
