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GMM Pfaudler Ltd’s shares were up by over 4 per cent after the company, through its wholly-owned subsidiary GMM Pfaudler US Inc., announced an agreement to acquire 100 per cent share capital of Professional Mixing Equipment Inc. The acquisition, valued at $7 million, will be financed through internal accruals and is anticipated to conclude by October 2023.
MixPro, headquartered in Brampton, Canada, is known for its innovative mixing solutions tailored for diverse industrial applications.
Managing Director, Tarak Patel, said, “The acquisition of MixPro is in line with our strategy of building our mixing technologies business. It enhances our product portfolio and also further strengthens our process know-how and simulation/testing capabilities. With the acquisitions of MixPro and Mixel, we have created a global mixing technology platform that can cater to a wide range of industry segments.”
The shares were up by 4.31 per cent to Rs 1,841.40 at 11.20 am on NSE.
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