Ester Industries has completed sales of Engineering Plastics Business to Radici Plastics India to Radici Plastics India Private Limited, in an all-cash slump sales transaction amounting to Rs. 289.33 crore.

On 6th May, 2022, Ester Industries had entered into a definitive agreement to sell its Engineering Plastic Business to Radici Plastics India Private Limited, in an all-cash slump sales transaction amounting to Rs. 289.33 crore.

This strategic divestment will not only result in a stronger balance sheet for Ester Industries but also provide the requisite growth capital for scaling up its capacities in business areas wherein the company believes there is opportunity to enhance shareholders value.

Completion of this transaction will enable management of Ester to enhance its focus on core businesses of Polyester Films and Specialty Polymer businesses. Ester will continue to work towards building innovative and path-breaking products in its Specialty Polymer business besides improving product mix in Film business by increasing the share of value-added products.

Ester Industries Limited is one of India’s leading producers of Polyester Films and Specialty Polymers having a track record of continually developing new and innovative products for customers across the globe. Ester Industries has state of the art manufacturing facilities in Khatima and Sitarganj in Uttarakhand with the capacity of 67,000 TPA of Polyester Resin; 57,000 TPA of Polyester Film; and 30,000 TPA of Specialty Polymers.

The company currently exports about 30% of its production of Polyester Films with a sales and distribution network in more than 50 countries across the world resulting in strong customer relationships. Specialty Polymers are manufactured primarily for the US and other overseas markets.