India’s largest zinc oxide maker, Rubamin, has acquired the Rs. 100 crore-J&K Pigments, another zinc oxide manufacturer located in the Kathua district of Jammu & Kashmir, for an undisclosed sum. The acquisition also provides the Rs. 360 crore-Rubamin with a base in J&K, where it enjoys tax incentives.
The acquisition would consolidate the company’s position as the largest zinc oxide producer in the country. Rubamin aspires to become one of the major producers of zinc oxide in the world by 2010. The Vadodara-based company has facilities in Halol, Daman and J&K. It also has a wholly owned subsidiary in Congo, which is engaged in mining, exploration and trading.
Rubamin is a top-notch export house, with exports around the world, and boasts of high-profile customers like Phelps-Dodge, Codelco and Bridgestone. Rubamin has been consistently rated one of the best vendors for these companies. Within the country, the company is a supplier to leading companies such as MRF, Apollo Tyre and Lubrizol. Rubamin has a nationally recognized R&D centre and apart from zinc oxide, it also manufactures cobalt salt. There are only a few companies in cobalt salt manufacturing.
Read the Business Standard article.
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