your password has been reset successfully, Please login again.

SRF Will Sell Its Engineering Chemical Business to DSM

SRF has proclaimed that will sell its engineering plastics entity to DSM for INR 320 crore
BY BEx Bureau
BusinessEx
May 13, 2019

The Gurugram-based chemical firm, SRF has proclaimed that will sell its engineering plastics entity to DSM for INR 320 crore. The chemical firm is selling the subsidiary business as a part of the strategy to concentrate its core business.

SRF is essentially a chemical firm engaged in producing speciality and industrial intermediates. The company is now selling its engineering plastics business to DSM, under the mutually consented definitive agreement, for the sum of INR 320 crore.

SRFs plastic business produces multiple types of engineering compounds, rendering to electrical and automotive industries.

"Today marks a significant milestone for our company, as we take another step along our strategic direction of focusing on our core businesses," Managing Director of SRF, Ashish Bharat Ram told the Indian daily news, Money Control.

While the engineering plastics business has been a profitable and niche business for us, we felt that scaling it into a large business would have taken significant time and in that sense passing it onto a credible player would be logical for everyone involved, Ashish Bharat Ram added, as reported by the Indian daily news, Money Control.

After the deal, SRF will be fortified monetarily and further, focus on its primary business and develop more intricate technologies in the chemical business.

Please add your Comment
SIMILAR News
May 24, 2019
Biofourmis will deploy the funds to expand its business in the US as well as Asian markets. ...More
By Jaspreet Kaur
May 24, 2019
Reliance Capital Ltd, the investment arm of Reliance Group, is making its departure from mutual fund ...More
By Jaspreet Kaur
May 22, 2019
Spinny will be deploying the fresh capital to widen its footprint in Bengaluru. ...More
By Jaspreet Kaur
May 22, 2019
Edelweiss Insurance Brokers, a subsidiary of Edelweiss Financial Services, will sell a small portion ...More
By Jaspreet Kaur
May 21, 2019
According to the strategic partnership, Padukone will possess equity in the company ...More
By Jaspreet Kaur
May 21, 2019
Livspace will be utilizing funds in various domains such as in creating novel home interior solution ...More
By Jaspreet Kaur
May 20, 2019
The Indian infra firm, IL&FS (Infrastructure Leasing and Financial Services) proclaimed that Japanes ...More
By Jaspreet Kaur
May 18, 2019
 Nippon Life will disburse nearly INR 4,484 crore to obtain a major stake of Reliance Capital in the ...More
By Jaspreet Kaur
May 18, 2019
Brookfield Asset Management’s CEO wishes Howard Marks, Co-founder of Oaktree Capital, to continue do ...More
By Jaspreet Kaur
May 15, 2019
Innoven Capital proclaimed that the company obtained an extra $200 million capital investment from s ...More
By Jaspreet Kaur
May 15, 2019
National Mineral Development Corporation Ltd (NMDC), government-owned mineral producer plans to inve ...More
By Jaspreet Kaur
May 14, 2019
Global PayEx proclaimed that JP Morgan has done strategic investment in the company so the company c ...More
By Jaspreet Kaur