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| Exchange Received Time 02/11/2017 16:46:29 Exchange Disseminated Time 02/11/2017 16:46:33 Time Taken 00:00:04 | SRF Ltd had signed today definitive agreements for acquisition of HFC-125 assets from Mexichem UK Ltd.
Required details-
Name of the Entity- Mexichem UK Limited
Area of Agreement-HFC 125 assets and related technical know how
Scope of business operation- Manufacture and sale of HFC 125.
Details of consideration paid in ag USD 10,125,000
Sig. t&c of ag. in brief -Co. will acquire the HFC 125 assets and related technical know how. The Co. plans to relocate the assets to India and set up the facility for manufacturing HFC-125 at its Dahej plant.
Rationale and benefit expected Co. is the only Indian manufacturer of HFC 134a and HFC 32 with indigenous technology. With this acq, Co. will gain the unique advantage of mfg all 3 major HFCs, namely HFC 134a, 32 and 125, which will be marketed under the Co's FLORONTM brand. It also makes the Co. as one of very few producers in world to be fully backward integrated, leading to greater efficiencies and providing an edge to the Co the marketplace.
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