Bodal Chemicals buys 70% stake in dye intermediates maker SPS Processors

As part of the deal, BCL to provide unsecured loan about Rs 45 crore to SPS Processors Pvt Ltd to make it debt free company by retiring its existing total debt and also for expansion of its manufacturing capacity of vinyl sulphone plant.

“With this investment, Bodal Chemicals will able to consolidate its position in the local and global markets of dyestuff and dyes intermediates. Stricter environmental regulations in China resulting into supply restrictions coupled with India's improved competitiveness have presented substantial global opportunities. Bodal Chemicals, of the largest and most integrated players in this industry, is poised to take advantage of these opportunities backed by its long established local and global customer relationships,” said Suresh Patel, chairman and managing director, Bodal Chemicals Ltd.