Aditya Birla acquire chlor-alkali, phosphoric acid unit Solaris Chemtech

Aditya Birla to acquire chlor-alkali, phosphoric acid unit of Solaris Chemtech

10:39 AM, 4th June 2013
Aditya Birla to acquire chlor-alkali, phosphoric acid unit of Solaris Chemtech
Kumar Mangalam Birla, Chairman, Aditya Birla Group.

MUMBAI, INDIA: Aditya Birla Chemicals (India) Limited, a company of the Aditya Birla Group, approved the acquisition of the chlor-alkali and phosphoric acid division of Solaris Chemtech Industries Limited (SCIL) for a cash consideration of Rs 153 crore ($26.9 million). This transaction will enable Aditya Birla’s entry into the southern Indian market as well as the addition of phosphoric acid to its current product portfolio.

“This strategic acquisition further strengthens our position in the chlor-alkali business. It will take our chlor-alkali business on a higher growth trajectory and marks our entry into a new market segment of phosphoric acid. The acquisition bolsters caustic soda supply, which is a critical input for both our aluminium and Viscose Staple Fibre (VSF) businesses,” said Kumar Mangalam Birla, Chairman, Aditya Birla Group.

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