Page 43 - Plastics News September 2017

BUSINESS NEWS

GROUP
RIL to acquire Kemrock
Industries' assets in e-bidding Why is the

largest selling brand
ukesh Ambani-led Reliance Industries has won the bid
Mto acquire Gujarat-based Kemrock Industries' assets of Compressed
in an online e-bidding process for an undisclosed amount.
Air Dryers?
Reliance Industries Ltd participated in an online e-bidding
process held recently by Allahabad Bank being the leader of
the consortium of 11
Banks to sell/dispose
off assets of Kemrock
Indsutries & Exports
Limited of Vadodara
(Gujarat) and has
been declared as the
Gas Dryer
winner in the said Refrigeration Dryer Up to 25,500 m 3 /hr
17 – 34,000 m 3 /hr
bid," the company
For drying
said in its statement. Compressed Air Desiccant Dryer
and Gas 17 – 8,500 m 3 /hr
Elaborating on its
It gives best
rationale to bid for
value for money
this company, RIL
said, it helps foray into new materials like composites
and fibre. "This participation is a part of Reliance's
efforts to enter the Composites business and establish a
leadership position in this large and growing market in
India. Composites are used in a variety of applications and
industries such as renewable energy, mass transportation,
infrastructure and a host of other industrial products.
The assets will pave the way for Reliance to foray into
new materials (composites and carbon fi ber) and further of proven
strengthen its petrochemicals business portfolio.
track record in
Analysts, however, see it as a smart move to gain
technology access in the Fiber Reinforced Plastic (FRP) performance and service
segment. "Kemrock allows access to technologies, which
are not available with most companies, making it a good
buy. In addition, with RIL's existing presence in Vadodara,
Call today for any
it is a good expansion," said an analyst with a domestic
Compressed Air Treatment Solution
brokerage fi rm who did not wish to be identifi ed. As of +91 8130311443
March 20, 2017, Kemrock had a market capitalisation of
Rs 17.75 crore.
21-C, Sector 18, Gurgaon 122015, Haryana • Ph.: 0124-4091111 RB/Del/1705HVCA11
E-mail: delairmarketing@pahwa.com www.delairindia.com
Gurgaon t Kolkata t Chennai t Mumbai t Vadodara
43 September 2017 | Plastics News