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Our Bureau

Chennai, Feb. 18 Chennai-based Refex Refrigerants Ltd (RRL) has acquired 51 per cent stake in Kaltech Engineering & Refrigeration Private Ltd based in Singapore for S$11 million (Rs 31 crore). RRL is a specialist refiller of refrigerant products while Kaltech is engaged in trading refrigerant gases.

According to a company press release, this acquisition would help RRL enhance its growth and make significant contributions to the margins. The company would further acquire 39 per cent for S$8.80 million (Rs 25 crore) during the course of this year. Eventually RRL would hold 90 per cent stake in Kaltech, the release added.

The Managing Director of RRL, Mr Anil Jain, said the synergies of this acquisition would reflect partly in the first two quarters and the total impact after 90 per cent stake holding.

More Stories on : Mergers & Acquisitions | Air-conditioners & Refrigerators

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