Kiri Industries buys Taiwanese chemical distribution firm

Kiri Industries buys Taiwanese chemical distribution firm

10:18 PM, 7th November 2011
Kiri Industries buys Taiwanese chemical distribution firm
Kiri Industries headquarters in India.

 

AHMEDABAD, INDIA: Kiri Industries Limited (KIL), one of the largest manufacturers and exporters of wide range of Dyes, Intermediates and Chemicals, has bought SMS Chemical Co, a Taiwanese chemical distribution firm. Both companies did not disclose financial details.

The acquisition is part of KIL’s forward integration, which would not only enhance the Indian firm’s global market share but would also help it to expand its customer reach. KIL expects that SMS would contribute $60 million to its revenue in 2012.

SMS Chemical handles distribution of products produced by several South East Asian firms. Post-acquisition, the firm would continue handling distribution of chemicals produced by other chemical firms, in addition to those manufactured by KIL. The chemical products distribution network of the profitable Taiwanese firm is spread across South East Asia.

(C) WOC News

 

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