Laxmi Organic Industries has entered into a Memorandum of Agreement on September 30, 2022 with Welspun Corp for purchase of land, civil structures (excluding plant & machinery) of Welspun’s unit situated in the Dahej, in the state of Gujarat.
The consideration to be paid under the Memorandum of Agreement is Rs 130 crore. The Company does not hold any shares in the shareholding of the Welspun.
Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates and solvents catering to diverse end-market sectors like pharmaceuticals, agrochemicals, food packaging, pigments and coatings.
