Process equipment supplier to pharmaceutical and chemical industries GMM Pfaudler (GMMP) is acquiring glass-lined equipment manufacturing facility of De Dietrich Process Systems India (DDPSI) here for €6.25 million.
“This acquisition will give us access to ready-made glass-lined equipment manufacturing capacity which will further strengthen our presence in the region,” said Tarak Patel, MD, GMMP, in a statement on Wednesday.
A stock exchange filing said the acquisition was expected to result in growth for GMMP through immediate market share improvement. The facility is located in Nacharam Industrial Estate here and spread across six acres. DDPSI is selling its plant, machinery and land relating to the glass lining equipment manufacturing business here.
According to Mr. Patel, GMMP is now well poised to take advantage of the expected investment in the upcoming Pharma City here and maintain its market leadership position in India. The acquisition, subject to completion of the final due diligence and other documentation, was expected to be completed by July 31.
