Axiall LLC, USA has invested Rs. 34.65 crores to acquire 50% stake in Polymer Compounding Business Shriram Vinyl Polytech Pvt. Ltd., a 100% subsidiary of DCM Shriram Ltd. on April 10, 2014 after receiving all approvals. Shriram Vinyl Polytech Pvt. Ltd. is now a 50:50 joint venture between Axiall LLC and DCM Shriram Limited, as per Equity Bulls. The companies had entered into a joint venture agreement on February 7, 2014, wherein the JV arrangement was finalised subject to various approvals and customary closing conditions.
The arrangement will enable the JV company to launch latest generation Polymer Compounds in India, offering more cost effective polymer solutions for different applications in domestic market.
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