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Grasim to divest its fertilizers business to Indorama

| By Mary Bailey

The Board of Directors of Grasim Industries Ltd. (Mumbai, India) approved the transfer of the company’s Fertilizer Business to Indorama India Pvt. Ltd. (IIPL). The Fertilizer business handles the manufacture, trading and sale of urea, customized fertilizers, agricultural-inputs, crop protection, plant and soil health products and specialty fertilizers.

The transaction is subject to the approval of the shareholders and creditors of the company, and necessary regulatory approvals.

Speaking on the transaction, Mr. Dilip Gaur, MD Grasim Industries Ltd said “The divestment of the Fertilizer business by Grasim is a strategic portfolio choice and unlocks value for the shareholders. It is in line with the strategic thrust of the Company to focus on core businesses. IndoGulf Fertilizers is synonymous with strong performance and high sustainability standards. To take it to the next level in size and value, the company is pleased to have found in Indorama Corporation, a credible fertilizer player to own IGF. IGF will benefit from synergies and expertise of Indorama Corporation’s existing agri portfolio.”

Mr. Amit Lohia, Vice Chairman of Indorama Corporation, said, “We are pleased that with this acquisition, Shaktiman and the Paras brands will be able to join hands to offer a complete range of products for our farmers including urea, phosphate fertilizers, potash, soil health products, seeds, and crop protection products. We are excited about this union and believe it will facilitate greater access and development of high quality agri inputs for the farming community.”