GMM Pfaudler Ltd, a global leader in corrosion-resistant technologies, said on Monday, December 23, it will set up a manufacturing facility in Poland to further strengthen its manufacturing capabilities in Europe. The company, through its German subsidiary, Pfaudler GmbH, entered into an Investment and Shareholders’ Agreement on December 20 to acquire a 51% stake in a Polish limited liability company, GMM Pfaudler said in a stock exchange filing.The acquisition marks a significant step in establishing a state-of-the-art manufacturing and engineering facility in Poland.
The acquired entity specialises in producing high-quality stainless-steel equipment tailored for the pharmaceutical and food industries, enhancing GMM Pfaudler’s competitiveness and global reach.
An investment of PLN 12.2 million (approximately ₹25.3 crore), funded through internal accruals, will be made to establish the facility.
This expansion aligns with GMM Pfaudler’s goal to deliver cost-effective, high-quality solutions to its customers worldwide, the filing added.
“This acquisition reflects our continued focus on delivering cost-effective, high-quality solutions for our customers. Establishing this facility in Poland aligns with our vision of strengthening our market presence in Europe and beyond,” Thomas Kehl, CEO of International Business, said.
GMM Pfaudler is a key player in corrosion-resistant technologies, systems, and services to the chemical and pharmaceutical industries.
With 20 manufacturing locations and a robust sales and service network spanning four continents, the company employs over 2,000 people and remains committed to providing innovative, cost-effective solutions to its customers.
The Patel family is the single-largest shareholder in engineering products manufacturer GMM Pfaudler Ltd.
Shares of GMM Pfaudler were trading 0.55% lower at ₹1,212.9 on the BSE around 10:11 am. Shares of GMM Pfaudler Ltd. have traded with a slump in the recent past, The stock has dipped 9% in the past six months while dipping 24% on a year-to-date basis in 2024 so far. Shares of GMM Pfaudler Ltd. have been down by 23.8% over the past year.
Content retrieved from: https://www.cnbctv18.com/market/gmm-pfaudler-arm-acquires-51-pc-stake-in-german-company-to-establish-manufacturing-unit-19528266.htm.
