M&A

M&A

Loxim Industries sells newly spun out engg plastics making unit to Italy’s Lati

Press Release   Loxim Industries  

Vedano Olona VA, Italy-based Lati has acquired a majority stake in the newly spun out engineering plastics compound manufacturing unit of Ahmedabad-based Loxim Industries .The deal involves the spin-off of Loxim’s Engineering Compounds division and the formation of a new entity, Lati-Loxim Thermoplastics Pvt Ltd.The Loxim unit has an annual production capacity of 20,000 tons and has a presence in the industrial district of Sanand, Gujarat. This manufacturing base is expected to enable the newly created entity to address the growing demand in the E&E, household appliances, automotive, and e-mobility sectors.