9 July, 2024 15:05:14 IST 
Godrej Industries Ltd’s chemicals business unit has signed a business transfer agreement with Shree Vallabh Chemicals to acquire its ethoxylation unit II at Kheda in Gujarat, entailing an estimated investment of Rs. 45-crore.
The ethoxylation unit has a manufacturing capacity of 24,000-mtpa of finished products, a stock exchange filing from the company informed.
As a leading player in oleochemicals, surfactants, specialities and biotech, this transaction will help the company expand its product offerings by adding the Ethoxylation technology to its portfolio of process and batch technologies, it added.
Commenting on the development, Mr. Vishal Sharma, Executive Director and CEO, Godrej Industries (Chemicals) said, “Aligned with our commitment to growth and innovation, the proposed acquisition of the unit will aid us in expanding our offerings and also cater to new applications for our customers. By enabling us to accelerate the investment timeline, we are confident that it will also provide us with various cost synergies.”
