Coromandel International Completes Acquisition of 53 % Controlling Stake in NACL Industries Ltd.
Following the 53% stake acquisition, Mr. Natarajan Srinivasan, Mr. S Sankarasubramanian and Dr. Raghuram Devarakonda have joined the Board of NACL Industries today.
In addition, the Board of NACL Industries Ltd., at its meeting held today, approved the appointment of Dr. Raghuram Devarakonda as Managing Director & CEO. He previously served as Executive Director, Crop Protection, Bio Products and Retail businesses at Coromandel and brings with him extensive leadership experience and deep domain expertise across the value chain.
Commenting on the development, Arun Alagappan, Executive Chairman of Coromandel International, said: 'We are pleased to welcome NACL Industries Ltd. into the Coromandel and the larger Murugappa family. This acquisition aligns with our long-term strategic roadmap to enhance our presence in the agri solutions space. With the new leadership team in place, we are confident that NACL will accelerate its journey of innovation and growth.'
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