Chemicals: Aditya Birla Group buys unit for $187m

Aditya Birla Group says it acquired a unit of local chemicals maker in an all-cash deal.

MUMBAI: The Aditya Birla Group said on Saturday that it had acquired a unit of local chemicals maker Kanoria Chemicals and Industries for 8.3 billion Indian rupees ($187 million) in an all-cash deal.

Aditya Birla Chemicals (India) Limited, a unit of Aditya Birla Group, will buy the chloro chemicals division of Kanoria Chemicals to boost its production capacity, the company said in a statement.

Revenue for Kanoria’s chloro chemicals division, which makes chlor-alkalis, chlorine derivatives and water treatment chemicals, was at 3.03 billion rupees for the year that ended on March 31, the statement said. The deal will make Aditya Birla Group the country’s largest producer of chlor-alkali, a critical input in the aluminium sector.



Published in The Express Tribune, April 17^th, 2011.