Royal DSM has reportedly reached an agreement with Indian chemicals company SRF Ltd to acquire its engineering plastics business for INR3.2 billion (around €38 million).

DSM says that the acquisition conforms to its strategic aim of generating positions in fast-growing economies. SRF’s engineering plastics business was founded in 1979 and its main operations are located in the city of Pantnagar. It realized sales of about US$37 million in 2018.

In 2018, DSM’s total sales in India, realized with about 550 employees, amounted to about €250 million, an increase of 17% compared to 2017, the company said.

This story uses material from DSM, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.