Crystal completed acquisition of Cytec India facility

Date:02-20-2018

Crystal Crop Protection Ltd said on Monday it has completed the acquisition of speciality chemical manufacturing facility of Cytec India, a unit of Belgian chemical major Solvay SA.

However, it did not disclose the deal value.

"The company has completed the acquisition of speciality chemical manufacturing facility of Cytec India, part of 11.4 billion global specialty chemical major Solvay S.A," Cyrstal Crop said in a statement.

This manufacturing facility is located on around 10 acres in MIDC Butibori, Nagpur and can be utilised to integrate the existing R&D and manufacturing facilities of the company, it added.

Commenting on the deal, company's MD Ankur Aggarwal said: "We believe in taking technology, innovation and manufacturing to the next level. This asset acquisition will enhance the manufacturing capabilities of the company and add a new dimension to its business.

It is part of our strategy to promote 'Make in India' and bring modern and affordable agrochemicals to farmers."