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Business News/ Companies / News/  Aditya Birla Chem to acquire Solaris Chemtech unit
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Aditya Birla Chem to acquire Solaris Chemtech unit

The buy will enable Aditya Birla’s entry into the southern market, add phosphoric acid to its existing product portfolio

A file photo of Aditya Birla Group chairman Kumar Mangalam Birla. Photo: Abhijit Bhatlekar/Mint (Abhijit Bhatlekar/Mint)Premium
A file photo of Aditya Birla Group chairman Kumar Mangalam Birla. Photo: Abhijit Bhatlekar/Mint

(Abhijit Bhatlekar/Mint)

Mumbai: The board of Aditya Birla Chemicals (India) Ltd on Friday approved the acquisition of the chlor-alkali and phosphoric acid division of Solaris ChemTech Industries Ltd for 153 crore, subject to regulatory approvals.

This acquisition will enable Aditya Birla Chemicals’ entry into the southern Indian market and add phosphoric acid to its existing product portfolio.

The acquisition will bolster supply of caustic soda, a critical input for both aluminium and viscose staple fibre businesses, said Kumar Mangalam Birla, chairman of the Aditya Birla Group.

The chlor-alkali and phosphoric acid division of Solaris Chemtech has a caustic soda manufacturing facility with an installed capacity of 60,000 tonne per annum and a 24,000 tonne capacity phosphoric acid plant in Karwar, Karnataka, and 3000 acre of salt works in Gujarat.

A company statement said the caustic soda plant has not been operational since 31 December; the plant using mercury-based technology had to be shut down as per a statutory requirement.

Aditya Birla Chemical proposes to convert the mercury plant into membrane-based cell technology, the company said in the statement.

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Published: 31 May 2013, 07:09 PM IST
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