Sector News

Aditya Birla Chemicals buys Jayshree Chemicals’ unit for $35 mln

September 10, 2014
Chemical Value Chain
(Reuters) – Aditya Birla Chemicals (India) Limited (ADYA.NS) said on Monday it has acquired Jayshree Chemicals Ltd’s (JYCH.BO) caustic soda business for 2.12 billion rupees ($35.16 million).
 
Jayshree’s facility, located in the eastern Indian state of Odisha, has a capacity of about 57,000 tonnes per annum, Aditya Birla Chemicals said in a statement.
 
The company, part of the $40 billion Indian conglomerate Aditya Birla Group, expects the acquisition to increase its total caustic soda capacity to about 355,000 tonnes per annum, and plans to fund the deal through internal accruals and debt.
 
($1 = 60.2900 Indian rupees)
 
(Reporting by Zeba Siddiqui in Mumbai, editing by David Evans)

comments closed

Related News

May 21, 2022

Sika opens new manufacturing plant in Bolivia 

Chemical Value Chain

Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.

May 21, 2022

Chevron increases renewable fuel market share with REG acquisition

Chemical Value Chain

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

May 21, 2022

Lotte Chemical to invest $8 bn on hydrogen energy, battery materials by 2030

Chemical Value Chain

Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.