Kajaria Ceramics has acquired 51% stake in Jaxx Vitrified Private, based in Gujarat in all cash deal for Rs62.65 million. The same translates into acquiring 2.32 million equity shares of Rs10 for Rs27 a share.
Jaxx has an annual capacity to produce polished vitrified tiles of 3.10 million sq meters per annum, the addition of which would take the total annual capacity of Kajaria Ceramics (Q,N,C,F)* to 33.70 million sq meters.
Ashok Kajaria, chairman, Kajaria Ceramics said, this is second acquisition by Kajaria in the state of Gujarat. Jaxx has a brand new plant which should start the commercial production next month, in February 2012. This will help Kajaria to reduce import dependence to cater to the western and southern markets to take logistic advantage.....more info
Jaxx has an annual capacity to produce polished vitrified tiles of 3.10 million sq meters per annum, the addition of which would take the total annual capacity of Kajaria Ceramics (Q,N,C,F)* to 33.70 million sq meters.
Ashok Kajaria, chairman, Kajaria Ceramics said, this is second acquisition by Kajaria in the state of Gujarat. Jaxx has a brand new plant which should start the commercial production next month, in February 2012. This will help Kajaria to reduce import dependence to cater to the western and southern markets to take logistic advantage.....more info