BASF India to set up precious metal catalyst plant at its’ existing manufacturing site at Mangalore

29 Jul 2013

BASF India’s board of directors at its meeting held on July 29, 2013, has approved the three proposals. The First proposal is for setting up of precious metal catalyst plant at Company's existing manufacturing site at Mangalore. The project cost will be approximately 10 crore (Euro 1.5 million) and the same will be financed through internal accruals. Production is likely to commence in last quarter of 2013.

Second proposal is for Cessation of operations at the blending plant of automotive coatings division at Khuskhera in Rajasthan due to safety risks from operations of neighboring industries. The customers of the said location will be served from the Company’s Mangalore plant and hence there is no material impact on the performance of the Company. Third proposal to set up an Agricultural Research Station for testing new agro chemical compounds on agricultural crops and to examine their efficacy under local climatic conditions. The Company has taken on lease approximately 30 acres of Agricultural land at Lonikand near Pune for a period of 20 years. 

BASF India is a leading player in chemical sector and manufactures and markets a wide range of products such as expandable polystyrene, tanning agents, leather chemicals and auxiliaries including specialized metal complex dyes etc. in primary forms and crop protection chemicals.

Related BASF India Ltd. Links:

BASF India Share Price

1459.80 -52.60 (-3.48%) Sep 21, 18:03
1 Year Price Chart
Peers
Company Name CMP
UPL 531.45
BASF India 1459.80
Bayer CropScience 6132.55
PI Industries 1944.75
Rallis India 295.25
View more..
Sensex vs BASF India
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback