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GMM Pfaudler Ltd. — Capital/Financing Update 2020
Jun 30, 2020
61612_rns_2020-06-30_c9d08f83-063a-48b5-8fbd-d3a722bfac26.pdf
Capital/Financing Update
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www.gmmpfaudler.com | BSE: 505255 | CIN: L29199GJ1962PLC001171 | ISIN: INE541A01023 | SECTOR: ENGINEERING - HEAVY
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Press Release
GMM Pfaudler has entered into a binding term sheet with De Dietrich Process Systems India Pvt. Ltd. (“DDPSI”) for itemized sale of their manufacturing facility at Hyderabad, Telangana.
Mumbai, June 30th, 2020: GMM Pfaudler Ltd (GMMP), a leading supplier of process equipment to the pharmaceutical and chemical industries, announced that it entered into a binding term sheet with De Dietrich Process Systems India Pvt. Ltd. (“DDPSI”) for itemized sale of their manufacturing facility at Hyderabad, Telangana.
The state of the art facility equipped to manufacture Glass Lined Equipment is located at Nacharam Industrial Estate, 15 Kms away from Secunderabad, Telangana and spread across an area of 6 acres.
A consideration of Euro 6.25 million will be paid for the proposed transaction subject to completion of the final due diligence and other documentation.
Management Comment
Commenting on the acquisition, Mr. Tarak Patel, Managing Director of GMM Pfaudler said “We are happy to announce this acquisition as it will give us access to ready-made Glass Lined Equipment manufacturing capacity which will further strengthen our presence in the region.”
He further added "We are now well poised to take advantage of the expected investment in the upcoming Pharma City in Hyderabad and maintain our market leadership position in India.”
About GMM Pfaudler
GMM Pfaudler (GMMP) is a leading supplier of process equipment to the pharmaceutical and chemical industries. GMMP is the market leader and has more than five decades’ experience in manufacturing Glass Lined Equipment. Over the years GMMP has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems and Heavy Engineering Equipment and is today a one stop shop for the chemical process industry. The Company has long standing track record of consistent dividends. For Details please contact www.gmmpfaudler.com
For details please contact:
Ms. Mittal Mehta Diwakar Pingle Company Secretary Christensen IR P: +91 22 6650 3900 P: +91 22 4215 0210 E: [email protected] E: [email protected]
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forwardlooking statements. GMM Pfaudler Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.