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Aditya Birla Chemicals' merger with Grasim gets CCI nod
11 Sep '15
1 min read
One of the leading producers of Chloro Alkali in India, Aditya Birla Chemicals (ABCIL), has received Competition Commission of India's (CCI) approval to amalgamate with Grasim Industries Limited, ABCIL said in a filing to the BSE.
Earlier in July, ABCIL had received consent from its shareholders to merge the company with Grasim Industries.
The merger of ABCIL with Grasim industries is expected to strengthen the company's existing portfolio of viscose staple fibre, caustic soda, and allied chemicals in a standalone company.
With three plants located in Uttar Pradesh, Jharkhand, and Karnataka, ABCIL, has an installed capacity of 2,39,000 tons of caustic soda per annum. Grasim Industries, also a large producer of caustic soda, has an annual installed capacity of 4,52,500 tons. (HO)
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