Aditya Birla Chemicals has bought the chlor-alkali and phosphoric acid division of Solaris Chemtech Industries for Rs 153 crore. The deal will help Aditya Birla Chemicals, a part of the Aditya Birla group, to enter the southern market and also add phosphoric acid to its product portfolio. Solaris Chemtech Industries has a 24,000-tonne-a-year phosphoric acid plant in Karwar, Karnataka, which produced 21,380 tonnes of phosphoric acid in 2012-13.
Founded in 2003, Solaris ChemTech, part of the $4 billion Avantha Group, is the largest producer of bromine and bromine chemicals and technical grade phosphoric acid. The company is a closely held unlisted company with its registered office in Delhi.
Aditya Birla Group’s chemical manufacturing firm ABCIL operates through four companies – Aditya Birla Nuvo, Grasim, Aditya Birla Chemicals (India) and Tanfac. During the year ended March of 2012, sales at Aditya Birla Chemicals were USD 107.62 million, which was an increase of 159% as compared to the previous year. This was the fifth consecutive year of sales increases at the company, whose sales have increased a total of 333% since 2007.