Jaykay Enterprises (JKE) through its wholly owned subsidiary i.e. JK Defence & Aerospace has acquired the 76.41% equity stake in Allen Reinforced Plastics (Allen). The Acquisition is part of the inorganic growth plans of the company in Defence & Aerospace Sector. Post-acquisition Allen will become subsidiary of JK Defence and step down subsidiary of the company. The cost of acquisition is Rs 90 crore.
Allen is involved in the design, development, manufacture and testing of composite and allied engineering products for the purpose of Defence, Aerospace and Engineering products like Missile & Rockets components, Underwater Applications, Marine and submarine, Gun and accessories.
Jaykay Enterprises manufactures synthetic yarns, fibres and fabrics, portland and white cement, chemicals, fertilisers, pharmaceuticals and synthetic fibre-making machinery, and chemicals, and develops renewable energy sources.
