Corporate News 05-Aug-09
Kanoria Chemicals & Industries enter into joint venture with Soluciones
To set up a flavours & fragrance manufacturing facility
Kanoria Chemicals & Industries has announced that the company has entered into a joint venture agreement with Soluciones Extractivas Alimentarias S.L.A., Spain (Soluciones) under which the company alongwith its subsidiary shall hold 26% of the share capital of the joint venture company of which 74% share capital will be held by Soluciones. The joint venture company will set up a flavours & fragrance manufacturing facility with an outlay of around Rs 20 crore at Vishakhapatnam.
The company made this announcement during the trading hours today, 05 August 2009.
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