GMM Pfaudler enters into agreement to acquire MixPro

GMM Pfaudler Ltd through its wholly owned subsidiary GMM Pfaudler US Inc., has entered into an agreement on September 14, 2023, to acquire 100% share capital of Professional Mixing Equipment Inc. ("MixPro"). A total consideration of USD 7 million will be paid to acquire MixPro and the transaction will be funded through internal accruals and is expected to close by October 2023.

MixPro, located in Brampton, Canada designs and manufactures innovative Mixing solutions for a wide range of industrial applications.

Mr. Tarak Patel, Managing Director said, "The acquisition of MixPro is in line with our strategy of building our Mixing Technologies business, it enhances our product portfolio and also further strengthens our process know-how & simulation/testing capabilities. With the acquisitions of MixPro and Mixel now complete, we have created a global Mixing technology platform that can cater to a wide range of industry segments."

Shares of GMM Pfaudler Limited was last trading in BSE at Rs. 1765.20 as compared to the previous close of Rs. 1743.90. The total number of shares traded during the day was 8209 in over 828 trades.

The stock hit an intraday high of Rs. 1775.00 and intraday low of 1743.90. The net turnover during the day was Rs. 14457677.00.

Source : Equity Bulls

Keywords

GMMPfaudler INE541A01023 Acquisition MixPro