Phillips Carbon Black to persist with Evonik bid
January 31st, 2011 - 6:10 pm ICT by IANSKolkata, Jan 31 (IANS) RPG Group company Phillips Carbon Black Ltd (PCBL) will persist with its bid to acquire Germany-based Evonik Industry, world’s second largest carbon black maker, its top executive said here Monday.”Is it an opportunity (Evonik acquisition) that you should let go off?” RPG group chairman Sanjiv Goenka said while talking to reporters here Monday.
Two Indian carbon black players - Aditya Birla and Phillips Carbon Black - are vying to acquire the assets of Evonik Industries. Evonik shortlisted around six bidders for carbon black sale. The second round of bidding is expected to commence next month.
To a question on the acquisition process for Evonik, he said: “We are not authorised to speak. I am legally bound not to speak anything.”
He also welcomed Aditya Birla Group’s successful bid to acquire US-based Columbian Chemicals Company, the third largest carbon black producer.
“I welcome the development. I feel proud that Indian companies are playing an important role in global market,” he said.
Kumar Mangalam Birla’s diversified conglomerate pipped rival bids, including one by the Kolkata-based PCBL, to acquire Columbian Chemicals.
- Kolkata firm to begin Vietnam plant work in March - Jan 31, 2011
- Phillips Carbon Black profit slumps - May 03, 2011
- Phillips Carbon to invest Rs.200 crore for new plant - Apr 28, 2010
- Phillips Carbon Black mulls rights issue to raise equity - Jan 21, 2010
- Sanjiv Goenka launches new group (Lead) - Jul 13, 2011
- Aditya Birla Nuvo to buy controlling stake in Pantaloon - Apr 30, 2012
- Aditya Birla Nuvo to buy controlling stake in Pantaloon (Lead, Superseding earlier story) - Apr 30, 2012
- 'Kumar Mangalam will take charge of Kesoram when required' - Jul 05, 2011
- BK Birla to continue as chairman of the group - Jul 01, 2010
- At Birla marriage anniversary, Mamata talks business - Apr 29, 2012
- Sanjiv Goenka launches new group - Jul 13, 2011
- Ruia Group to acquire two European firms - May 11, 2011
- Kumar Mangalam Birla has no plans to join Kesoram board - Feb 18, 2010
- Mangalam Timber offers merger with Mangalam Cement - May 03, 2010
- BK Birla for Mangalam Timber, Mangalam Cement merger - Jul 01, 2010
Tags: acquisition, aditya birla group, assets, bidders, chemicals company, diversified conglomerate, germany, global market, goenka, group chairman, group company, mangalam, pcbl, phillips, rival bids, sanjiv, shortlisted, top executive