Excel Industries To Acquire Chemical Manufacturing Unit Of NetMatrix Crop
Excel Industries Limited has informed that the board of directors of the company at its meeting 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 Seller has recently commissioned its plant for the manufacture of a pesticide intermediate in the month of May 2019. Rs. 95 crores (subject to working capital adjustments on Closing Date) paid for the acquisition.