Standard Glass Lining Technology has entered into a Terms Sheet for the acquisition of 51% of Equity Shares of M/s C2C Engineering a Private Limited Company engaged in the business of providing design and detailed engineering services, and undertaking Engineering, Procurement, Construction (EPC) contracts for clients in the pharmaceuticals, chemicals, food, tyre, paints and allied industries.
This acquisition aligns with the company’s strategic growth initiatives aimed at business expansion, diversification and strengthening of its market presence in providing end to end solutions to the critical process industries. The acquisition is expected to bring synergistic benefits, enable faster project execution, enhance the company’s innovation, quality and competitiveness.
For the above, the company shall enter into a Share Purchase Agreement (SPA) for the acquisition of the said 51% with M/s C2C Engineering and its shareholders. Further, upon successful completion of the acquisition of 51% issued and paid-up share capital, C2C Engineering will become a subsidiary of the company.
Standard Glass Lining Technology is one of the specialized engineering equipment manufacturers for pharmaceutical and chemical sectors in India, with in house capabilities across the entire value chain.
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