Acutaas Advance Material Limited (previously Baba Advance Materials Limited), an entirely-owned subsidiary of Acutaas Chemicals Limited, has obtained a 75% controlling stake in South Korea-based Indichem Inc. This strategic acquisition of the joint project corporation enhance Acutaas’s expansion into the global semiconductor specialty chemicals market.
The acquisition of shareholding in JV corporation has reinforced its global semiconductor specialty chemicals portfolio by obtaining a 75% stake (300,000 shares) in Indichem Inc. This joint task funding, approved via Indian and South Korean regulators, was finalized at a par value of KRW 500 per share plus premium.
Indichem is into the business of production of speciality chemicals for semiconductor industry supporting to South Korean and Global Market. Construction and capex works of corporations production plant in South Korea is in progress and is slated to be commissioned by the end of the recent calendar year.
Ami Organics Limited has been renamed as Acutaas Chemicals Limited.
