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GMM Pfaudler inks an Euro 6.25 million agreement with De DietrichProcess Systems
Mumbai. GMM Pfaudler Ltd (GMMP), a leading supplier of process equipment to the pharmaceutical and chemical industries, announced today that it has entered into an agreement with De Dietrich Process Systems India Pvt. Ltd for the acquisition of their Glass Lined Equipment manufacturing facility at Hyderabad.
The state of the art facility is 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 will be paid for the proposed transaction subject to completion of the final due diligence and other documentation.
Commenting on the acquisition, Mr. Tarak Patel, Managing Director of GMM Pfaudler said, “We are happy to announce this acquisition as it will give us access to ready-made Glass Lined Equipment manufacturing capacity which will further strengthen our presence in the region.”
He further added “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.”
