M&A

M&A

DCM Shriram sells 50% stake in Shriram Polytech to Dutch co. Teknor Apex for $5.6 M

BSE Announcement   Business Line  

New Delhi-headquartered DCM Shriram has sold a 50% stake in its subsidiary, Shriram Polytech , to the Netherlands-based Teknor Apex B.V. for USD 5.6 million. This transaction will convert Shriram Polytech from a wholly owned subsidiary into a joint venture.Shriram Polytech manufactures polymer compounds. The collaboration between DCM Shriram and Teknor Apex aims to combine Shriram Polytech's domestic manufacturing capabilities in vinyl compounds with Teknor Apex's global formulation expertise, facilitating the development of specialty polymer solutions for various industrial applications.Teknor Apex B.V. is a unit of the US-based Teknor Apex Company, with manufacturing facilities in Belgium, specialising in thermoplastic elastomers for Europe.