This move is expected to empower the company to produce enough sheets of meltblown nonwoven fabric for approximately 300 million face masks per year.
The move will support the fast-growing packaging industry in South China.
Stork will provide maintenance services and capital expenditure services including multidisciplinary piping and mechanical, electrical and instrumentation, and other specialty services.
Under the new agreement, DKSH will provide marketing and sales as well as distribution and logistics for Stepan’s specialty products for the emulsion polymerization, coatings and inks segments.
The closure does not have any adverse effect on operations of the company as the total contribution of these units in total margin of the company is negligible.
The new entity, headquartered in Switzerland, has 48,000 employees in more than 100 countries, and had sales of US$23 billion in 2019.
The project will be set up in existing chlor alkali and derivatives complex at Dahej for proximity to key raw material like chlorine and to leverage existing infrastructure facilities.
Company expects the hit on turnover to be in the range of 25 to 30% and profitability to be hit by about 50% at PBT level over last year.
GHCL Limited has incorporated a wholly owned subsidiary GHCL Textiles Limited on June 17, 2020.
Board recommends a Final Dividend of Rs. 11 /- per share (110%).
Annual sales declined 13.98% to Rs 1084.79 crore in 2020 as against Rs 1261.04 crore last year.
The company has recommended final dividend of Rs. 3 per share of face value of Rs. 2/- each.
The ministry has also extended the timeline for submission of representation by the stakeholders from 45 days to 90 days.
The company said it is halting work on a new dicamba plant in Luling, Louisiana, because global overcapacity for producing the chemical made the investment less attractive.
As part of this MoU, Lygos will provide its proprietary yeast platform to Praj for jointly developing into various solutions for commercial applications.
Rakesh Bhartia, CEO of India Glycols Limited has resigned from his position with effect from June 16, 2020.
The requirement of urea during Kharif season is estimated at 170 Lakh MT while production may be around 133 Lakh MT.
The $1 billion project is expected to start in 2022.
The collaboration between the two companies is already underway and brings together their complementary expertise and common commitment to a low-carbon future.
The consignment is expected to reach Iran by 16th June 2020.
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