M&A M&A
Germany’s Rehau Group buys 51% stake in PVC tapes maker Red Star Polymers
Source Rehau Group (opens in a new tab)Business Line (opens in a new tab)
Germany-based Rehau Group , through its Switzerland entity, has acquired a 51 per cent stake in Red Star Polymers Pvt Ltd, valuing the Chennai-based company at INR 46 crore. The remaining 49 per cent stake will be acquired within the next three years.Red Star Polymers, founded by S Karthikeyan, is a manufacturer of PVC edge band tapes, operating from its facility in Sri City, Andhra Pradesh. The company serves over 3,000 customers, including OEMs and dealers across India.Red Star Polymers plans to double its current production capacity of 2,400 tons per year through a multi-phase expansion at its Sri City facility. Phase 1 is near completion, with new machinery and increased capacity already in place, while Phase 2, involving further land expansion, is underway.