MOSCOW (MRC) -- Dura-Line Corporation - a subsidiary of Mexico-based Mexichem SAB de CV and a manufacturer of high density polyethylene (HDPE) conduit, duct and pressure pipe for telecommunications and data communications – has inaugurated its fourth Indian manufacturing facility in Hyderabad, said Business-Standard.
In addition to the new facility, Dura-Line has two other facilities located in Goa and another in Neemrana (near Delhi).
The new plant will produce cable ducts and pressure pipes for the water, datacom and gas markets. The location of the Hyderabad plant in South India will allow Mexichem to strategically position itself for exports to Southeast Asia, to serve customers in South India and to capture new business opportunities in the region. The opening of this plant is part of the company’s continued strategy of becoming a global, vertically integrated chemical company with a focus on high-end specialised products and solutions.
“Dura-Line will continue to expand its presence in Asia, Africa and the Middle East with Mexichem’s long term commitment and backing. The location of the new plant in Hyderabad allows Dura-Line to better serve customers in South India and is strategically positioned for exports to Southeast Asia, as well as to capture new business opportunities in the region" said Paresh Chari, CEO of Dura-Line.
As MRC informed earlier, Mexichem in August 2014 announced that it has reached an agreement to acquire Dura-Line Corp. from CHS Capital for a total of USD630 million in cash and assumed liabilities, advancing Mexichem’s strategy of global growth in high-end specialty products.
Dura-Line is a leading international manufacturer and distributor of communication and energy infrastructure products and systems including conduit, cable-in-conduit, pipe, and accessories. Acquired by Mexichem from CHS Capital in 2014, Dura-Line has manufacturing facilities in the US, Mexico, India, Oman, Europe, and South Africa.
Mexichem, of Tlalnepantla, an industrial municipality close to Mexico City, is Latin America’s largest manufacturer of PVC pipe, vinyl resins and compounds. Neither it nor SVP mentioned when they expected the deal to be completed.
New York investment banking firm Jefferies LLC advised SVP. JP Morgan Chase & Co was Mexichem’s adviser.
MRC