Hindusthan Specialty Chemicals to be acquired by DCM Shriram for Rs 375 crore
Leading business conglomerate with a specialty in the chemical sector, the DCM Shriram group has informed that its board has approved a definitive agreement to acquire Hindusthan Specialty Chemicals Ltd (HSCL) for Rs 375 crore.
This acquisition is subject to regulatory and customary approvals. The firm to be acquired, HSCL, operates a production facility in Jhagadia, Bharuch district, Gujarat, spanning 43 acres. HSCL's facility is located 3.5 km from DCM Shriram's existing chemicals complex, which would help DCM Shriram to integrate work post acquisition.