Aditya Birla Gr acquires Sweden's Domsjo Fibre

Tuesday, 19 April 2011, 07:13 IST
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Mumbai: Diversified business conglomerate Aditya Birla Group today said it has acquired Swedish pulp maker Domsjo Fibre for a total consideration of $415 million (over Rs 1,800 crore). "The enterprise value is $340 million. There has been an ongoing capex plan of $75 million, which will take our total investment to $415 million," Aditya Birla Group Business Director (Pulp and Fibre Business) K K Maheshwari told reporters here. The production capacity of the foreign firm, which clocked a revenue of $390 million last year, will be increased to 2.55 lakh tonnes by June 2012 from 2.1 lakh tonnes at present, he added. "We have some ambitious growth plans for out VSF (Viscose Staple Fibre) business... We will expand our capacities to over a million tonnes by June 2013 from 7,50,000 at present," Maheshwari said.
Source: PTI