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Kiri Industries buys Taiwanese chemical distribution firm
07
Nov '11
Kiri Industries Limited (KIL), one of the largest manufacturers and exporters of wide range of Dyes, Intermediates and Chemicals from India, has bought a Taiwan-based chemical distribution firm, SMS Chemical Co., for an undisclosed amount.

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.

Next to acquisition of Germany-based DyStar for a price of over Rs. 12 billion in February 2010, this happens to be the Ahmedabad-based firm's second international acquisition.

KIL expects that the Taiwanese firm would contribute US$ 60 million to its revenue in 2012.

The chemical products distribution network of the profitable Taiwanese firm is spread across South East Asia.

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.

Fibre2fashion News Desk - India

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