Crystal Crop Protection Limited has completed the acquisition of specialty chemical manufacturing facility of Cytec India, part of € 11.4 bn global specialty chemical major Solvay S. A.
This modern manufacturing facility is located on around 10 acres in MIDC Butibori, Nagpur and can be utilized to integrate the existing R&D and manufacturing facilities of the Company.
Commenting on the acquisition, Ankur Aggarwal, Managing Director of the Company, “We believe in taking technology, innovation and manufacturing to the next level. This asset acquisition will enhance the manufacturing capabilities of the Company and add a new dimension to its business. It is part of our strategy to promote ‘Make in India’ and bring modern and affordable agrochemicals to farmers”
Singhi Advisors, Mumbai based global M&A advisors, acted as exclusive advisors to Solvay Group in the transaction.
Crystal Crop Protection Limited:
The Company along with its agrochemical business has diversified into seeds, exports and agri-equipment businesses.
The Company was set up by, Mr. Nand Kishore Aggarwal, honorable Chairman, and Executive Directors of the Board of Directors of the Company. With more than 23 years of dedication and hard work, Crystal has achieved major milestones and has grown to be amongst one of the leading agrochemical companies in India, with insecticides, fungicides, herbicides, plant growth regulators, and micronutrients as part of its product portfolio.
Apart from acquisition at Nagpur, Crystal has five manufacturing units – two in Haryana, two in Jammu and one in Anand, Gujarat. Its Greenfield project is under construction at Dahej, Gujarat.