Board of GMM Pfaudler approves acquisition of plant

At meeting held on 29 July 2020

Jul 29, 2020 06:07 IST capital market

The Board of GMM Pfaudler at its meeting held on 29 July 2020 has approved the signing of definitive documents with De Dietrich Process Systems India (?DDPSI?) for itemized sale of their manufacturing facility at Hyderabad, Telangana.

The plant of DDPSI is located at Nacharam Industrial Estate in an area of 6 acres, 15 Kms away from Secunderabad, Telangana. It is equipped with world class machinery and devices to manufacture Glass Lined Equipment and Pressure Vessels.

The indicative time for completion of the acquisition is 30 September 2020. The company proposes to pay Euro 6.25 million for the proposed acquisition.

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