Home / Knowledge / News / Textiles / Grasim acquires additional stake in AV Cell
Grasim acquires additional stake in AV Cell
Apr '08
Aditya Birla Group informed that it has increased its stake from 75% to 95% in the two joint venture companies in Canada viz. AV Cell Inc and AV Nackawic Inc at a total consideration of around Canadian $ 9 million.

The Group has acquired the additional 20% stake in these two companies from Tembec Group, its joint venture partner in these entities.

While Grasim Industries Ltd has acquired the additional stake in AV Cell Inc increasing its holding in AV Cell from 25% to 45%, PT Indo Bharat Rayon Indonesia, has acquired the additional 20% stake in AV Nackawic.

Tembec's decision to dilute its stake in these two entities is part of their effort to focus resources on its core business units.

Says Mr. Shailendra K. Jain, Director Pulp & Fibre Business of Aditya Birla Group “this transaction fits very well with our strategy of securing cost effective Pulp requirements of the VSF business.

The longstanding relationship with Tembec will continue as before and we at Aditya Birla Group are indeed happy that Tembec will remain a much valued shareholder in both the companies”.

He added “The conversion of the AV Nackawic plant from Paper Grade pulp to Rayon Grade pulp is progressing well and is expected to be completed in July 2008”.

Aditya Birla Group

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search