Pfaudler GmbH, a wholly owned subsidiary of GMM Pfaudler Ltd ("Company"), has entered into an agreement on December 8, 2022 for acquisition of Mixel France SAS, incorporated under the laws of France.
Mixel has a consolidated turnover of € 13.2 million as on December 31, 2021.
The acquisition of Mixel is in line with the growth and diversification strategy, it further enhances the product portfolio and also strengthens the Mixing business by bringing in additional technology and process knowhow.
The acquisition price is € 7,000,000 (Seven million Euros) and an additional subsequent payment amount of up to € 500,000 (Five hundred thousand Euros) subject to certain performance milestones of Mixel.
The acquisition is subject to French law and will follow the general principles of information and consultation with the works council.
Mixel specialises in the design and manufacture of standard and made-tomeasure mixing systems used across various industries and has more than 45,000 agitators installed worldwide. Mixel has two manufacturing facilities, one in Lyon, France and the second in Beijing, China.
Mr. Tarak Patel, Managing Director said, "The acquisition of Mixel is in line with our growth and diversification strategy, it further enhances our product portfolio and also strengthens our Mixing business by bringing in additional technology and process know-how."
Shares of GMM Pfaudler Limited was last trading in BSE at Rs. 1948.30 as compared to the previous close of Rs. 1935.50. The total number of shares traded during the day was 4426 in over 860 trades.
The stock hit an intraday high of Rs. 1967.65 and intraday low of 1905.05. The net turnover during the day was Rs. 8612568.00.