Hitech (BOM:526217) has agreed to acquire electrical, automobile and industrial components manufacturer Thriarr Polymers for up to 300 million Indian rupees, according to a BSE filing on Wednesday.
Thriarr has two manufacturing facilities at Ahmednagar in Maharashtra, India. It also exports to the US, the United Arab Emirates, and Ireland, among others.
The acquisition will be completed within three months, after which Thriarr will become a wholly owned subsidiary of Hitech.
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