Aditya Birla Group company Grasim Industries has acquired Canada's Terrace Bay Pulp for about $300 mn, according to reports.
Reports stated that Terrace Bay which owns 285,000 tonnes of paper grade pulp capacity, will be converted into rayon grade pulp to be used by Grasim for its viscose staple fibre operations.
Grasim Industries is expected to make an announcement shortly, says report.