Godrej Industries Ltd. (Chemicals) has agreed to acquire the ethoxylation unit of Shree Vallabh Chemicals in Kheda, Gujarat, as it aims to expand business, optimise costs and introduce newer products.
"This transaction will help the company expand its product offerings by adding the ethoxylation technology to its portfolio of process and batch technologies," the company said in an exchange filing on Monday.
Officially known as ethoxylation unit II, it reportedly has a manufacturing capacity of 24,000 metric tonnes per annum of finished products.
”... the proposed acquisition of the unit will aid us in expanding our offerings and also cater to new applications for our customers," Vishal Sharma, executive director and chief executive officer of Godrej Industries (Chemicals), said in the filing. "By enabling us to accelerate the investment timeline, we're confident that it will also provide us with various cost synergies.”
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