Wholly-owned subsidiary in India
Jun 9, 2005
Perstorp Aegis Chemicals Pvt Ltd has been fully acquired
by Perstorp AB, with the purchase of the remaining 30% stake held by Aegis
Logistics Ltd. With this Perstorp Aegis Chemicals Pvt Ltd has become a
wholly-owned subsidiary of Perstorp AB. This acquisition is effective
from 1 June 2005.
The proposed name of the subsidiary is Perstorp India Chemicals Pvt Ltd.
This is subject to the statutory approvals from the relevant governmental
Lars Eric Johansson, Managing Director of the Indian business, was very
optimistic about the acquisition." I'm confident that this will be
a good move for the Indian business. This move is expected to bring in
more investments for new products and technology. The decision to establish
an R&D centre at the Indian site was previously announced, which is
also a positive move".