Sudarshan Chemical Shares Rise 2.4% After Heubach Acquisition Completion

Shares of Sudarshan Chemical Industries Limited (SCIL) went up by 2.4% today after the company's announcement of completing the acquisition of Germany-based Heubach Group's pigment businesses. The strategic acquisition, which is worth about ₹1,180 crore, increases SCIL's global presence to 19 locations in all geographies. The acquisition makes a global pigment leader by uniting SCIL's knowledge with Heubach's technological strengths. The combined company, under the management of SCIL's Managing Director Rajesh Rathi, will be a force to reckon with in strategic markets, such as Europe and the Americas. The transaction solves Heubach's recent financial struggles and places SCIL in the position to offer high-quality solutions to international customers, fueling innovation in the colorants space.
Source: NDTV Profit