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Industry News

Wholly-owned subsidiary in India

Published on 2005-06-09. Author : SpecialChem

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 agencies.

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".

Source: Perstorp

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