Page 132 - CW E-Magazine (25-3-2025)

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AGROCHEMICALS

Coromandel International to acquire controlling

stake in NACL for Rs. 820-cr

Murugappa Group company, Coro-
mandel International, has agreed to
acquire 53% stake in Hyderabad-based
agrochemicals company, NACL Indus-
tries (formerly Nagarjuna Agrichem)
for Rs. 820-crore. The company will
acquire the stake at Rs 76.7 per share
from the current promoter KLR Pro-
ducts Ltd. In a statement released on the
occasion, Coromandel said it also pro-
poses to make an open offer to the pub-
lic to acquire up to 26% of the equity of
NACL Industries as required under the
SEBI’s takeover regulations. The con-
solidated turnover of NACL Industries
in 2023-24 was Rs. 1,787-crore.

NACL Industries operates techni- players in the Indian crop protection in- tions presence, we are setting the stage
cal and formulation plants in Andhra dustry with a wide range of technicals for a signifi cant increase in operational
Pradesh, besides a centralised R&D and pan-India presence in domestic for- scale. The acquisition not only expands
facility near Hyderabad. NACL’s sub- mulation business. “This will also help our scale but also enables us to tap into
sidiary had recently invested in a tech- in expanding Coromandel’s scale, acce- critical customer segments and secure
nical grade facility at Dahej, capable lerating its entry into contract manufac- strategic CDMO relationships,” Coro-
of manufacturing active ingredients, turing business, fast-tracking new pro- mandel’s Executive Chairman Mr. Arun
Coromandel said. It has established for- duct commercialisation and expanding Alagappan said.
midable partnerships with key global its product portfolio,” the company said.
players, offering contract manufactur- “With the combined synergies in
ing services for over two decades. The “The decision to acquire NACL R&D and manufacturing, we can accel-
company has strong brand presence in Industries is a natural extension of com- erate our go to market strategy for new
domestic formulations segment with pany’s growth vision. By combining products and intermediates, thereby
pan India footprint. our extensive distribution network and increasing our product offerings in do-
deep industry expertise with NACL’s mestic and global markets,” Managing
The proposed acquisition will posi- manufacturing capabilities, diversifi ed Director and CEO Mr. S. Sankarasubra-
tion Coromandel as one of the leading product portfolio and large formula- manian noted.

Linde India inks long term contract with Asian

Paints subsidiary

Linde India has entered into long manufacturing of Vinyl Acetate Mono- at Dahej of 245-tpd of liquid capa-
term contract with Asian Paints (Poly- mer (VAM) and Vinyl Acetate Ethylene city together with 100-tpd of gaseous
mers), a wholly subsidiary of Asian Emulsion (VAE). oxygen. Linde said the ASU is part
Paints for supply of industrial gases of its long-term goal of develop-
through pipeline at its upcoming manu- The company proposes to install ing a pipeline cluster in the Dahej
facturing facility at Dahej, Gujarat, for its third Air Separation Unit (ASU) region.

132 Chemical Weekly March 25, 2025

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