Xpro India concludes sale of thermoset division to SI Group - India

Xpro India has concluded the sale of its thermosets division at Ranjangaon, engaged in the manufacture of thermoset moulding powders and synthetic resins, on August 18, 2011, at a consideration of Rs 74.50 crore on a going concern and slump sale basis, to SI Group - India in terms of the business purchase agreement entered into, and shareholders and other relevant approvals.

Earlier, Xpro India’s board approved for entering into a Business Purchase Agreement with SI Group - India for the sale of the company’s Thermosets division situated at Ranjangaon, Maharashtra. The approval for entering into the agreement was granted at its board meeting held on March 24, 2011.

Xpro India is a diversified multi - divisional, multi - Location Company with a strong commitment to the polymer processing industry. Xpro India has a product portfolio consisting of BOPP films, coex cast films, coex sheets, synthetic resins, thermoset moulding materials and cotton yarn.