Shares of Supreme Industries Limited rose nearly 2% to ₹3,363.90 on March 11 after the company signed a Memorandum of Understanding (MoU) with Wavin Industries Limited (Wavin India) to expand its footprint in the plastics piping industry.
Key Highlights of the Acquisition:
- The deal, valued at $30 million plus net working capital, is subject to due diligence and regulatory approvals.
- Wavin India manufactures PVC, CPVC, HDPE, and PPR pipes with plants in Banmore (M.P.), Hyderabad (Telangana), and Neemrana (Rajasthan).
- This acquisition will increase Supreme Industries’ production capacity by 73,000 M.T. per annum, strengthening its reach in North and South India.
- Supreme Industries will gain exclusive access to Wavin B.V. (Netherlands) technologies for seven years, covering advancements in water supply, sanitation, and climate-resilient solutions.
- Wavin India recorded a turnover of ₹1,007.50 crores in FY 2023-24.
- The deal is expected to be completed by June 30, 2025.
This move aligns with Supreme Industries’ strategy to strengthen its market position in the plastics piping sector while driving innovation in India and SAARC countries.
Disclaimer:
The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
