Vadodara-based Ameya Group has acquired the marketing rights for polyurethane sealant business from speciality chemicals company Chemetall-Rai India limited for an undisclosed sum.
Chemetall-Rai hived off their polyurethane business as they wanted to concentrate on their core business line, said a statement here. With this acquisition Ameya will be able to enter the airport and defence space as polyurethane sealants are used exclusively for airfield runway maintenance.
An Ameya Group spokesperson informed that the group expected to register additional sales worth Rs 6-7 crore in the financial year 2011-12 thanks to the acquisition.
Ameya's current construction speciality materials segment has structural glazing Sealants, core drilling technology, anchors and fasteners, & water proofing products etc.
The company said in a release, " Ameya will get the advantage of getting the existing client base of Chemetall-Rai." Chemetall had a business tie up with UK's Kommerling, Europe's leading manufacturer and supplier of MS and polyurethane adhesives and sealants.
Ameya Group hopes to clock a turnover of Rs 60 crore this fiscal. The company also operates in other SBU like speciality chemicals, capital equipments, paints & coatings apart from construction & infrastructure product lines.
Also Read
It said in a statment that it would focus on growing by acquisitions of small & mid-sized companies either manufacturing or marketing companies which can add value to the existing product line & existing market segments which they are catering.
Earlier in 2008, Ameya Group has tied up with Netherlands-based Adamas, a manufacturer of diamond drilling and cutting equipment used in high-value infrastructure (HVI) and construction industry. Diamond drilling and cutting equipment are used for demolishing existing buildings and making fast and precise openings in reinforced concrete.
As part of the tie up, Ameya markets and provides support to all customers through its dedicated sales and service branch offices across India.