Supreme Industries to acquire Wavin India's piping business
Supreme Industries (BSE:SUPREMEIND) has announced a Memorandum of Understanding (MOU) with Wavin Industries Limited, dated March 10, 2025, to acquire its Indian piping (building and infrastructure) business. The aggregate consideration for the acquisition is US$30 million (thirty million United States Dollars), plus net working capital on the closing date, the amount to be decided in due course. The acquisition is subject to due diligence and regulatory approvals. Wavin India is involved in manufacturing piping systems under the "Wavin" brand and is part of the Orbia Group. The acquisition is expected to increase Supreme's piping division capacity by 73,000 metric tons per annum and will facilitate catering to markets in North and South India. Wavin India's turnover for FY2023-24 was Rs. 1007.50 crores. The company aims to complete this acquisition by June 30, 2025.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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