September 6, 2017 / 12:49 PM / 2 months ago

Reliance Industries to buy Kemrock assets

(Reuters) - Reliance Industries Ltd, oil-to-telecoms conglomerate, said on Wednesday it will buy assets of Kemrock Industries and Exports Ltd, in a move to enter the composites and carbon fibre manufacturing business.

A man walks past an advertisement of Reliance Industries Limited at a construction site in Mumbai, India, May 14, 2015. REUTERS/Shailesh Andrade/File Photo

Reliance Industries said it won an e-bidding process for Kemrock Industries, a company based in India's western state of Gujarat. The e-bidding process was conducted by a consortium of 11 banks, led by Allahabad Bank. bit.ly/2wHLJhA

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sherry Jacob-Phillips

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below