Jul. 1, 2019
At the meeting of the Board of Directors of Excel Industries Ltd held last Thursday, the Board has approved the acquisition of a chemical manufacturing unit of NetMatrix Crop Care Limited located at Plot no. 15 & ISA, APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh as a going concern by way of slump sale.
The Business Undertaking is a chemical manufacturing unit in APSEZ, having the manufacturing plant for a pesticide intermediate.
The cost of acquisition is Rs. 95 crores (subject to working capital adjustments on Closing Date).