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Excel Industries Limited updates on acquisition of Business Undertaking of NetMatrix Crop Care Limited

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 & 15A, 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).

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