ICI India plans to sell its uniqema business to UK-based Croda International for Rs 260 crore. The sale will include the transfer of a portion of its factory based in Thane, along with 200 employees and will be completed before the end of this year.
The sale follows the strategic decision by ICI Plc to sell its global uniqema business to Croda International Plc. The annual sales for ICI Indias uniqema (surfactant\oleochemical) business for the last year was about Rs 150 crore, with over 60 per cent of the products going to textile industry. Currently, Croda has a small presence in India and this acquisition will enhance the size of its Indian operations.
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| Posted : 6/30/2006 |
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