Elantas Beck India’s board has approved the proposal of acquisition of intangible assets pertaining to the wire enamel business from hubergroup India at a consideration, not exceeding Rs 45 crore, plus GST at applicable rate, subject to mutually agreed adjustments, execution of definitive agreement and all such approvals as might be required.
With the acquisition, Elantas Beck will be able to offer existing and new customers even more individualized solutions and strengthen its technology leadership in the wire enamels Sector. The Board of Directors of the company in its meeting held on December 23, 2019 has considered and approved the same.
Elantas Beck India is engaged in the manufacturing of wide range of specialty chemicals for electrical insulation and construction industries. The main business line of the company includes Primary Insulation, Secondary Insulation and Electronic & Engineering Materials.
