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GMM Pfaudler arm to acquire Semco Technologia; share price rises 3%
At 01:00 PM, GMM Pfaudler shares were trading at ₹1,263.40, up by 1.90 per cent on the National Stock Exchange. In comparison, the Nifty50 was trading in the red territory, down by 46 points or 0.18 per cent. So far this year, shares of the company have witnessed a single-digit surge of 5.3 per cent on the NSE. However, on an annual basis, GMM Pfaudler shares have declined by more than 9 per cent.
The corrosion-resistant equipment manufacturer will acquire SEMCO via its wholly owned subsidiary firm, Pfaulder Ltda.
"The acquisition of SEMCO strengthens our mixingtTechnologies platform and provides us with direct access to the fast-growing mining sector in Brazil. This strategic move will enhance our global presence by adding products, technologies, and process know-how to our portfolio," said Tarak Patel, managing director, GMM Pfaudler.
SEMCO, headquartered in Brazil, has a strong presence in various industries, including metals & mining, renewable fuels, water & wastewater treatment, chemicals and petrochemicals.
"We are thrilled to join the GMM Pfaudler group and gain access to the company's extensive product portfolio and well-established global sales network," Rodrigo C. Franceschini, CEO of Semco, said in a recent exchange filing. Brazil is among the leading producers of iron ore, copper and bauxite, which has spurred demand for crushing, filtration, mixing and slurry handling equipment. As per data, the country's mining sector will attract investments worth over $50 billion in the next 5 years.
About GMM Pfaudler
GMM Pfaudler designs and manufactures corrosion-resistant technologies and systems and provides services to diversified industries, including chemical, pharmaceutical, and other process industries. The company has 18 manufacturing locations with a strong presence across 4 continents. GMM Pfaudler, formerly Gujarat Machinery Manufacturers, was established in 1962.
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