Financial Daily from THE HINDU group of publications
Saturday, Mar 08, 2003
Financial Daily from THE HINDU group of publications Saturday, Mar 08, 2003 |
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Corporate
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Mergers & Acquisitions Jubilant to buy UDV plant for Rs 2.75 cr Our Bureau
NEW DELHI, March 7 JUBILANT Organosys Ltd will consolidate its manufacturing infrastructure located at Nira near Pune by acquiring the potable alcohol manufacturing and bottling plant of UDV India Ltd, which is located within Jubilant's own facilities. A decision to this effect was taken at a board meeting of the company. Jubilant Organosys owns and operates a large distillery at Nira that manufactures industrial alcohol for internal consumption as an ingredient for the company's products such as ethyl alcohol, ethyl acetate and VAM. The acquisition of the production facilities of UDV India, that includes its potable alcohol blending and bottling units, will therefore enable Jubilant Organosys to leverage its manufacturing strengths resulting in operational synergies and at the same time consolidate its infrastructure at Nira This acquisition to be made for a consideration of Rs 2.75 crore, will be funded through internal accruals and Jubilant will enter into a contract with Triumph Distillers and Vintners Pvt Ltd for the bottling of 60,000 IMFL cases per month for a minimum period of three years.
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