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Clariant Chemicals India has permanently closed a manufacturing unit at Nandesari, Vadodra, from June 28. The operations thereto have been consolidated at the company’s existing unit at Rania, Panchmahal, Gujarat, and the closure does not have any adverse effect on the operations of the company, it said in a notification to the stock exchanges.
Meanwhile, the company has entered into an agreement to assign the land and sheds thereon of the Nandesari unit to Sud Chemie India Private Limited, a related party, for a consideration of ₹7.33 crore, which has been arrived at on arm’s length basis. The company has received approvals from the authorities, including GIDC, for the deal. Shares of Clariant Chemicals closed flat at ₹399.15 on the NSE.
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