Business Daily from THE HINDU group of publications
Monday, Dec 17, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Dec 17, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Corporate
-
Mergers & Acquisitions India Glycols buys Shakumbari Sugar New Delhi, Dec 16 India Glycols Ltd (IGL), a petrochemicals and specialty chemical player, has acquired a controlling stake of 96.56 per cent in Shakumbari Sugar & Allied Industries Limited, located in Uttar Pradesh. The company acquired the majority stake at a consolidated price of Rs 47 crore, an IGL release said here. "This acquisition is a first step towards attaining a complete backward integration for the company. This would greatly strengthen our position to enable us to operate at a optimum capacity required for a robust growth strategy of ours," it said here. Shakumbari Sugar & Allied Industries has a crushing capacity of 3,200 tonnes per day (TCD) along with a modern distillery of 40 kilo litres per day (KLPD). "India Glycols is the largest producer of ethanol in the country. With this acquisition, the company would be vertically integrated to captively produce additional ethanol requirements. India Glycols would further enhance the capacity of this unit from 3,200 TCD to 7,000 TCD whereas the distillery's capacity would be expanded to 250 KLPD from the present 40 KLPD," the release added. - Our Bureau
More Stories on : Mergers & Acquisitions | Petrochemicals | Sugar
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|