SRF has a consolidated sales of more than USD 1 Billion generated from 12 manufacturing plants in India, 2 in Thailand and 1 in South Africa and has commercial interests in more than 75 countries. It manufactures industrial and specialty intermediates and its portfolio includes technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics.
DSM India, the life sciences and materials sciences company, acquired the Engineering Plastics (EP) business division of SRF. for $ 45 million. EP business manufactures multiple grades of engineering plastic compounds, catering to the automotive and electrical industries. EP business realized sales of about USD ~37 million in FY 18-19 and has seen double-digit growth in recent years.
The transaction would enable SRF to strengthen balance sheet and focus its efforts and resources on developing more-and-more complex technologies within the chemicals business.