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)

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