Aluminiums packaging firm Ess Dee Aluminium has set aside about Rs500-600 crore most of which would be spent over next one year primarily in acquisitions.The company is striving for huge growth through the inorganic route earmarking Rs500-600 crore for acquisitions in the domestic and international markets.
The company is eyeing Kolkata-based India Foils currently under the Sterlite Group.
Confirming the development, Sudip Dutta,managing director Ess Dee Aluminium said the company was in the fray for India Foils currently under the Sterlite group.
India Foils has three units of which two are closed.Ess Dee had sought state government assistance like electricity subsidy and sales tax waiver for the turnaround.The company has also bid for Alcan’s packaging business which could be valued at $1 billion.
Read more in The Livemint article.
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