Re­liance In­dus­tries ac­quires as­sets of Kem­rock

Chemical Industry Digest - - News & Views -

Re­liance

In­dus­tries Ltd. par­tic­i­pated in an on-line e-bid­ding process held re­cently by Al­la­habad Bank be­ing leader of the con­sor­tium of 11 Banks to sell / dis­pose off as­sets of “Kem­rock In­dus­tries & Ex­ports Lim­ited” of Vado­dara (Gu­jarat) and has been de­clared as the win­ner in the said bid.

This par­tic­i­pa­tion is a part of Re­liance’s ef­forts to en­ter the Com­pos­ites busi­ness and es­tab­lish a lead­er­ship po­si­tion in this large and grow­ing mar­ket in

In­dia. Com­pos­ites are used in a va­ri­ety of ap­pli­ca­tions and in­dus­tries such as re­new­able en­ergy, mass trans­porta­tion, in­fra­struc­ture and a host of other in­dus­trial prod­ucts.

The as­sets will pave the way for Re­liance to foray into new ma­te­ri­als (Com­pos­ites and Car­bon Fi­bre) and fur­ther strengthen its petro­chem­i­cals busi­ness port­fo­lio.

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