USA'S AIR PRODUCTS TO BUY 23% IN INOX

Article Abstract:

Air Products and Chemicals (APC), an industrial gases company of the US, has bought a 23.36 percent stake in Industrial Oxygen Company Ltd (Inox) of Mumbai from its promoters, the Jains, for Rs91 crore at Rs375 per share. The Jains held a 73.36 percent stake in the company's equity of Rs10.37 crore. APC has acquired the Inox stake through Prodair Corporation, its 100 percent subsidiary. Prodair Corporation has also planned to acquire the entire public shareholding of 26.64 percent in Inox through an open offer at Rs375 per share. The entire cost of acquisition for APC comes to Rs200 crore. (khr)

Oxygen, Industrial Gas Manufacturing, Air Products and Chemicals Inc., APD, Industrial Oxygen Company Ltd.

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MITSUI TO PICK UP 5% STAKE IN DUPONT'S INDIAN ARM

Article Abstract:

Mitsui Ltd of Japan is acquiring a 5 percent stake in EI Dupont India Ltd, a subsidiary of EI Dupont and Co of the US. The US parent is increasing the equity capital of its subsidiary to Rs335 crore with a fresh infusion of Rs100 crore. The fresh equity infusion is being made to meet the funding requirements, debt obligations and inflationary costs incurred by the company. The government has given its permission for both the increase in equity capital and the 5 percent stake acquisition by Mitsui. EI Dupont India manufactures nylon industrial yarn, tyre cord and nylon 66 tyre cord fibre. (khr)

Japan, Diversified Companies, E.I. du Pont de Nemours and Co., DD, Mitsui and Company Ltd. (Tokyo, Japan), E.I. Dupont India Ltd

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ROHM & HAAS MAY TAKE OVER HMG POLYMER BUSINESS

Article Abstract:

Rohm & Haas of the US has plans of acquiring the polymer business of HMG Industries, a sick company. It proposes to takeover 6 polymer based resin brands of HMG under the Tenacryl brand. Rohm & Haas has initiated a due diligence for the polymer business of HMG. While HMG will get the much need funds through the sale of its polymer business, the acquisition will also help Rohm & Haas to secure a foothold in the Indian market. (ag)

Comment:

Plans of acquiring the polymer business of HMG Industries for an undisclosed amount, India

Polymers: Plastic, Rubber, Fiber, Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing, Polymers, Rohm and Haas Co., Article, HMG Industries

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