New Delhi, Sep 8 (UNI) With the acquisition of Thai Baroda Industries Ltd (TBIL), SRF Group today said its tyre cord capacity has increased to 65,000 tonne per annum, making it the second largest Nylon 6 tyre cord fabric manufacturer in the world.
The company had signed the definitive agreement for acquisiton of TBIL on May 27 this year.
The Thai-based firm has annual production capacity of about 12,000 tonnes of dipped Nylon Tyre Cord Fabric with annual sales of about 50 million dollars.
''All financial dues as per the restructuring plan approved by the Court have been paid as of this morning in Thailand,'' company said in a statement adding the new entity is expected to be profitable from day one.
''With this acquisition, the company has become the second largest Nylon 6 tyre cord fabric manufacturer in the world,'' it said.
UNI MP AK RL NS1646