Kansai Nerolac to acquire Perma Construction Aids
Kansai Nerolac has entered into a share purchase agreement with Perma Construction Aids. In a regulatory filing to BSE the company has informed that it has entered into Share Purchase Agreement (SPA) to acquire 100% equity stake in Perma Construction Aids as on the Closing Date (ie, the day on which the transaction would be consummated) for a total consideration of Rs. 29.10 crores.
Perma Construction Aids, incorporated in the year 1997, is engaged in design, manufacture and supply of construction chemical products in India and aboard under the brand name "PERMA". The product range includes water-proofing, adhesives, epoxy and admixtures. The company’s manufacturing facility is located at Sarigam, Gujarat with a total manufacturing area close to 60,000/- square feet divided between two factories.
"Kansai Nerolac is expanding its range so as to provide complete solution to our customers. The company will be strengthening its existing product portfolio with this acquisition," said H M Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints.
@EPC World Media