Clariant Chemicals (India) has received an approval for sale of the undertaking comprising of business of textile chemicals, paper specialties and emulsions along with employees, assets, liabilities and including all licenses, land leases, permits, consents and approvals thereto as a going concern by way of a slump sale on an as is where is basis to Archroma India for a total consideration of Rs 209.15 crore and on the terms and conditions as stated in the Business Transfer Agreement, as on September 30, 2013. The board of directors at its meeting held on September 19, 2013, has considered and approved for the same.
The board also approved relocation of the Masterbatches Plant of the Company from Kolshet, Thane to Renaissance Industrial & Warehousing Complex situate at Village Vashere, Taluka Bhiwandi, District Thane, Maharashtra, India to be operational effective from December, 2013.
Archroma India is a company incorporated in India under the Companies Act, 1956, being owned by S.K. Spice Sarl, an affiliate of S.K. Capital Partners, a US based private Investment Firm.
Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.
Company Name | CMP |
---|---|
Tata Chemicals | 1079.45 |
SRF | 2338.55 |
Pidilite Inds. | 2816.60 |
Aarti Inds | 704.00 |
Gujarat Fluorochemic | 3309.90 |
View more.. |