Elantas Beck India, the manufacturer of a wide range of specialty chemicals for electrical insulation and construction industries, has signed an asset purchase agreement Shimo Resins Pvt Ltd, Pune.
Shimo Resins manufactures a comprehensive range of insulating varnishes and resins for the electrical and electronics industry.
Under the agreement, the former will purchase the latter’s technical know-how and other business intangibles in the field of manufacturing filled epoxy and polyurethane resins, hardeners and catalysts used in casting, potting, encapsulating and sealant applications. The board of directors has given their approval for this purchase.
SRPL had a turnover of Rs 13.8 crore during the last year ended March 31, 2009. EBIL sees this as a strategic step towards strengthening its knowledge base in resin technology and, in the long run, will be in a position to provide a wider product range to its customers.