Vadodara-based pesticides formulations company Parul Chemicals Ltd has sold 70% stake to Punjab Chemicals & Crop Protection (PCCPL) at an enterprise value of Rs 9 crore.
Commenting on the acquisition, Shalil Shroff, managing director of PCCPL, said, "This acquisition will strengthen our position in agro-formulation business in India through leveraging Parul's product portfolio, distribution network, sales team and manufacturing facility." This acquisition will provide backward integration to the company. Until now, PCCPLs was outsourcing its agro formulation, which had limited its supplies, quality and margins. After acquiring stakes in Parul, the firm would use Parul's plant to manufacture its products for improving margins. "Through cross leveraging of PCCPL and Parul's product portfolio, sales team and distribution network, PCCPL's agro formulation division can now pursue next level of growth," Shroff said. "Parul has acquired more than 100 registrations for various formulations and this will help the company to add more products to its product mix along with wide distribution network in western India," he added. Parul Chemicals Ltd, has been annually formulating 1,300-1,500 kl liquid, 3,000 mt Dust and 200 mt of wettable powder. The company had turnover of Rs 22 crore in FY08 while PCCPL, had turnover of Rs 592 crore in FY08. Source: Sify ekamber The greatest lesson in life is to know that even fools are right sometimes. ---Churchill --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
