Himadri Chemicals & Industries has received an approval for formation of a wholly owned subsidiary (WOS) by way of acquisition of an existing company. The board at its meeting held on August 30, 2012 has approved for the same.
The board has also approved for transfer of the business of carbon black and power production of the company to the aforementioned wholly owned subsidiary company.
Himadri Chemicals & Industries is the largest quality grade pitch manufacturer India. The company is a market leader in supply of coal tar pitch and other by-products and commands a 70% market share.
