SRF to acquire Thai tyre co for Rs 1 bn

SRF Ltd announced tday that it has agreed to acquire Thailand based tyre cord company Thai Baroda Industries Ltd (TBIL) for Rs 1 billion.TBIL has an annual production capacity of about 12,000 tones of dipped nylon tyre cord fabric, with annual sales of about $50 million.SRF's combined annual production capacity for tyre cords will rise to 65,000 tonnes following the deal, the tyre cord maker said.