Rhi Magnesita India has informed that the Company has been on the lookout for business acquisitions in its core refractory business and in this connection has identified some potential business entities. A Board meeting was held yesterday on 18.10.2022 to consider and approve the execution of a Business Transfer Agreement (BTA) with Hi-Tech Chemicals. The meeting was held after trading hours at a shorter notice and details of the BTA (including name of the entity whose business is being acquired) were disclosed and discussed in the meeting of the Board only to avoid any kind of speculation.
The above information is a part of company’s filings submitted to BSE.
