Home / Knowledge / News / Textiles / SRF to buy two businesses of SRF Polymers
SRF to buy two businesses of SRF Polymers
15
Dec '08
SRF Limited, the domestic market leader in technical textiles, refrigerant gases and a preferred supplier of other fluorochemical products and polyester films, has announced its decision to purchase the two businesses of SRF Polymers Limited (SRFP), the Engineering Plastics Business (EPB) and the Industrial Yarn Business (IYB).

The decision to purchase on 'a going concern' basis at a total cost of Rs. 151.60 crore was taken by the SRF board in a meeting held on the last Friday on the basis of a valuation conducted by KPMG India Pvt Ltd, one of the major international accounting and consulting firms.

The effective date for the transaction shall be 1st January 2009. Earlier in October 2008, the board of SRFP had informed the stock exchange about its decision to seek approval of the shareholders through postal ballot for disposing of its both the businesses.

With this business acquisition, SRF's turnover will increase from nearly Rs. 1700 crore to about Rs. 2000 crore, and will enable further consolidation through greater synergies between businesses. In particular, SRF will provide the necessary financial resources for expansion of EPB which is a growing industry. Besides, EPB has a strong linkage to the auto sector & the consumer durables sector and is the domestic market leader in its segments. While SRF's acquisition of IYB will add to its product portfolio under Technical Textiles Business, it would also reduce the company's dependence on the tyre cord business.

EPB with two production units, one at Manali and the other one at Pantnagar, has an annual combined compounding installed capacity of manufacturing 15,000 tonnes of different grades of Nylon 6, Nylon 66 and Polybutylene Terephthalates (PBTs). IYB on the other hand has one manufacturing facility with an annual manufacturing capacity of around 2000 tonnes of twine located adjacent to the complex of SRF Technical Textiles plant at Manali.

SRF Limited


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace 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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search