The transaction with AOC is expected to close prior to the end of calendar year 2020, contingent on customary regulatory approvals and standard closing conditions.
The annual production capacity is planned to be 50,000 tons of cellulosic ethanol, processing around 250,000 tons of wheat straw, which is an abundant resource in the region, also known as the granary of Bulgaria.
The transaction is expected to close in the second half of 2020.
The acquisition marks Versalis’ entry into the high-performance formulated polymer applications sector, extending its positioning towards businesses that are more resilient to the volatility of the chemical scenario.
The operating ammonia urea plant was temporarily shut down on July 1, 2020, due to the non-execution of amendment to the escrow agreement of the company.
Company's annual revenue drops to Rs. 676.73 crore compared to Rs. 769.39 crore of previous year
Sales decline 67.98% to Rs 262.14 crore
With this agreement, Azelis will lead the distribution arm of the Coatings, Adhesives, Sealants & Elastomers (CASE) business both in the United States and Canada.
Company's net profit stood at Rs 51.79 crore in Q1 FY21 as against Rs. 14.67 crore last year.
Circular ethanol derived from this process can be blended with gasoline displacing fossil inputs with recycled carbon, lowering the fuel’s carbon footprint.
Initiative will help in making farming sector Atmanirbhar.
Company taking appropriate measures to reduce its fixed costs and conserve cash.
This increase in output will help significantly expand nitrogen fertilizer and NPK output.
Consolidated net profit increased by 301% YoY in the June quarter of FY21.
Sales decline 36.52% to Rs 660.56 crore
The company's revenue stood at Rs. 440 crore as against Rs. 879 crore in the corresponding period last year.
The delisting offer was open between July 17 and July 22.
The company, a major manufacturer of caustic soda and liquid chlorine, has been incurring heavy losses since 2009-10, with its net worth going in the red.
Clariant’s EnviCat VOC catalyst removes up to 99% and beyond of VOCs and CO with exceptional conversion and cost efficiency.
Sales were down by 24% as against last year and stood at $8.4 billion.
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