GMM Pfaudler to acquire De Dietrich's unit near Hyderabad for Rs 53 cr

Pharma sector supplier GMM Pfaudler on Wednesday announced that it will be acquiring De Dietrich Process Systems India's glass lined equipment manufacturing facility near Hyderabad for Euro 6.25 million (over Rs 53 crore).

Pharma sector supplier GMM Pfaudler on Wednesday announced that it will be acquiring De Dietrich Process Systems India's glass lined equipment manufacturing facility near Hyderabad for Euro 6.25 million (over Rs 53 crore). GMM, a supplier of process equipment to the pharmaceutical and chemical industries, and De Dietrich, which supplies to fine chemicals and pharma sectors, have entered into an agreement for the sale, an official statement said.

The facility being sold was described in the statement from GMM as a state of the art facility located at Nacharam Industrial Estate, 15 Kms away from Secunderabad, Telangana and spread across an area of 6 acres. “A consideration of Euro 6.25 million (over Rs 53 crore) will be paid for the proposed transaction subject to completion of the final due diligence and other documentation,” as per the statement.

GMM's managing director Tarak Patel said the acquisition will give the company access to ready-made glass lined equipment manufacturing capacity which will strengthen its presence in the region. “We are now well poised to take advantage of the expected investment in the upcoming Pharma City in Hyderabad and maintain our market leadership position in India,” Patel added.