M&As: DCM Shriram to acquire Hindusthan Specialty Chemicals for Rs375 bn; Maag completes acquisition of Sikora
To expand into the advanced materials segment, India’s DCM Shriram will acquire 100% of Hindusthan Specialty Chemicals (HSCL) for Rs375 billion. The acquisition strengthens synergies with its chemicals business, aligning with strategic goals in renewables and mobility sectors, and supports its Rs1,000 billion investment plan, the company said.
HSCL, an unlisted subsidiary of Hindusthan Urban Infrastructure Ltd, operates a 43-acre production facility at Jhagadia, Bharuch district, Gujarat. The plant is located just 3.5 km from DCM Shriram’s existing chemicals complex, allowing for synergies for integration and growth.
In FY 2024-25, HSCL reported a turnover of over Rs274 crore with its liquid epoxy resin capacity exceeding 17,000 kilotonnes/year. Its advanced product portfolio includes liquid epoxy resins, hardeners, reactive diluents, solvent cuts, and formulated resins, catering to high-performance sectors such as aerospace, electronics, renewable energy, electric vehicles, defence, and composites.
This acquisition builds on DCM Shriram’s earlier announcement in 2024, committing Rs1,000 crore for the establishment of its epoxy and advanced materials business under the Chemicals Strategic Business Unit (SBU).
In other news, Swiss machinery firm Maag Group announced the successful completion of Sikora, a manufacturer of innovative measuring, control, and sorting technologies. The aim of the partnership is to leverage joint synergies in a targeted manner and to strengthen the position of both companies in the long term.
With the successful completion of the transaction, Maag and Sikora will now combine their expertise to leverage new technological and geographical synergies, aiming at offering innovative solutions while providing expanded global support to customers.
Ueli Thuerig, President Maag Group, explains: “We are very pleased about this partnership. By combining our strengths and expertise, we are ideally positioned to create additional value for our customers, drive innovation in a targeted manner, and promote the long-term growth of both companies.”
Christian Frank, CEO of Sikora, commented that the partnership is based on a shared commitment to innovation, entrepreneurial spirit, and sustainable action. “It marks an important step in our shared future, opens up a wide range of opportunities, and strengthens our ability to develop innovative solutions. We look forward to working with Maag to continue our success and growth in a sustainable way."
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