*Kemrock Industries and Exports* has bought 80% stake in *Top Glass SpA*., Italy for an undisclosed sum. Top Glass SpA is one of the chief producers of pultruded composite profiles.
Kemrock will incorporate Top Glass' technical know-how in pultrusion (a process for manufacturing composite materials). Transaction Note Established in 1991, Vadodara headquartered Kemrock manufactures composite products like Wind Mill Blades, GRP / FRP Pipes, Moulded and Pultruded Gratings, Varieties of customized mouldings and Polymers like Epoxy, Polyester and Phenolic. It also posses strong Design and Testing facilities. It supplies parts to Formula 1’s *McLaren-Mercedes* and *BMW* manufactured with reinforced polymer (FRP) composite. Earlier this month, it had planned to invest $300-400 million in the next 4-5 years. Kemrock had partnered Top Glass for the production of centrifugally cast composites lighting poles for the Indian market in 2006. This year, it formed a JV with German MNC, *Saertex *to set up India’s first carbon fibre composite plant which would produce light weight components for Indian and global aeronautical industry. In the first phase the plant would have a capacity of 400 tonnes per annum (tpa) which will rise to 800 tpa in the second phase. Total project cost is Rs 250 Cr and production would start in 4 months. Present debt of Kemrock stands at Rs.400 Cr and has recently raised $50 mn through GDR issue. It had postponed its rights issue by one more quarter as it is waiting for the right timing. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
