Meghmani Organics acquires Kilburn Chemicals by admin- Monday, December 27th, 2021 04:11:05 PM
Meghmani Organics Ltd (MoL) has completed an acquisition of Kilburn Chemicals Ltd (KCL). MOL paid Rs. 132 crore (including Rs. 12.15 crore in the direction of fairness subscription) as in keeping with the National Company Law Tribunal (NCLT) authorized decision plan dated sixteen” December 2021. Thus, the Company has various its Pigment Division’s product providing with Kilburn Chemicals acquisition, fast-monitoring its foray into Titanium Dioxide (TiO2). The aforesaid acquisition has been funded from MOL’s internal accruals. As a end result, MOL’s Titanium Dioxide (TiO2) project may be EPS accretive. The plant is positioned at Dahej, Gujarat and its current Titanium Dioxide (TiO.) manufacturing potential is pegged at sixteen,500 metric tons in step with annum (MTPA). MOL expects to commence the commercial production of Titanium Dioxide (TiO.) from Q2 FY23, thereby including Rs. 300-350 crore to the revenues on a full financial yr basis.