MUMBAI: Kumar Mangalam Birla-controlled Aditya Birla Group has acquired Terrace Canadian pulp mill in northern Bay of Western Ontario, where the group will invest over U.S. $ 250 million in a phased manner to convert the mill to produce pulp soluble grade.
A special purpose vehicle, AV Terrace Bay Inc was created to acquire the assets of the pulp mill grade, in which Aditya Birla Group flagship Grasim Industries, which hold 40% interest, while Thailand Rayon public held the remaining stake. Over the next three years, Grasim would contribute $ 44 million of the total capital contribution of $ 110 million.
Aditya Birla Group chairman Kumar Mangalam Birla said: "The acquisition of the Terrace Bay mill and its subsequent conversion into a pulp mill degree of dissolution is an important strategic step in the VSF (viscose staple fiber) business enjoyed a sustained global leadership .. continued growth, we have an integrated business model, which covers the value chain from planting to pulp fiber. the Terrace Bay mill, after conversion, will aim to provide the superior quality pasta for our plants worldwide VSF. "
A special purpose vehicle, AV Terrace Bay Inc was created to acquire the assets of the pulp mill grade, in which Aditya Birla Group flagship Grasim Industries, which hold 40% interest, while Thailand Rayon public held the remaining stake. Over the next three years, Grasim would contribute $ 44 million of the total capital contribution of $ 110 million.
Aditya Birla Group chairman Kumar Mangalam Birla said: "The acquisition of the Terrace Bay mill and its subsequent conversion into a pulp mill degree of dissolution is an important strategic step in the VSF (viscose staple fiber) business enjoyed a sustained global leadership .. continued growth, we have an integrated business model, which covers the value chain from planting to pulp fiber. the Terrace Bay mill, after conversion, will aim to provide the superior quality pasta for our plants worldwide VSF. "
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