Home / Knowledge / News / Textiles / Aditya Birla Chemicals to merge with Grasim
Aditya Birla Chemicals to merge with Grasim
12
Feb '15
The Board of Directors of Grasim has approved the proposed merger of the Aditya Birla Chemicals (India) Limited (ABCIL), another Aditya Brila Group company, with Grasim.
 
Grasim’s Board of Directors approved the swap ratio of 1 share of Rs 10 each of Grasim for every 16 shares of Rs 10 each of ABCIL, a press release from Grasim said. Grasim will issue 14.62 lakh new shares, which will increase its share capital to Rs 93.31 crore, the release added.
 
With an installed capacity of around 452,500 tonnes per annum, Grasim is a leading manufacturer of caustic soda, which is inter-alia used as an input in the manufacturing of viscose staple fibre (VSF), which is a major business of Grasim. Its plants are located at Nagda (Madhya Pradesh) and at Vilayat (Gujarat), where a unit was recently commissioned.
 
ABCIL is one of the leading chlor-alkali companies in India with three manufacturing plants located at Rehla (Jharkhand), Renukoot (UP) and Karwar (Karnataka) with an installed capacity of around 293,000 tonnes of caustic soda per annum and 110 MW of captive power plant.
 
The merger of ABCIL with Grasim will consolidate Aditya Birla Group’s chlor-alkali business into Grasim, and strengthen its existing portfolio of VSF, caustic soda and allied chemicals in the standalone company.
 
The merger, which is in line with Aditya Birla Group's philosophy to unify similar business in one company, will enable geographical diversification for Grasim through the addition of ABCIL's manufacturing facilities spread across the country. It will also enable the business to capitalise growth opportunities by bringing in operational and financial synergies, backed by Grasim's strength. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pyrates Smart Fabrics

Textiles | On 16th Jul 2018

Spain's Pyrates Smart Fabrics targets Asia, S America

Spain-based Pyrates Smart Fabrics, whose major markets are northern...

Textile item exporters in Turkey's Denizli target China

Apparel/Garments | On 16th Jul 2018

Textile item exporters in Turkey's Denizli target China

Exporters in Turkey's Denizli, which accounts for $1.5 billion of the ...

Bangladesh to modernise 3 jute factories to boost sector

Textiles | On 16th Jul 2018

Bangladesh to modernise 3 jute factories to boost sector

The executive committee of Bangladesh’s National Economic Council...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Top executives
Textile industry, India

The event should be organised every year

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search