Anupam Rasayan takes Tanfac stake
Indian speciality chemicals and custom synthesis firm Anupam Rasayan has acquired 24.96% of Tanfac Industries from Birla Group Holdings and others for €17.3 million. It is also launching an open €18 million offer to acquire a further 26%, potentially giving it a majority stake, alongside Tamil Nadu Industrial Development Corporation.
Tanfac is a speciality fluorides manufacturer, notably making hydrofluoric acid aluminium fluoride, sodium silicofluoride and potassium fluoride, as well as sulphuric acid and oleum, at its single site at Cuddalore, Tamil Nadu. It had sales of €29.5 million in the first three quarters of the 2022 fiscal year.
Anupam Rasayan described this move as “a strategic decision to expand the product series under [its] fluorination chemistry”, gaining it back-integration into potassium fluoride. With access to these basic fluoro compounds, the firm added, “we will be able to introduce niche value-adding fluorine derivatives in the coming years”, mainly for applications in crop protection, pharma intermediates and polymers of many different kinds.