Sayaji Industries sells its entire 40% stake in JV for USD 3.2 mn
The proceeds from the transaction is intended to be used for expansion and upgradation plans, and to strengthen company's balance sheet via reduction of debt.
Sayaji Sethness began operations in 1993 as a joint venture between Sayaji Industries and Sethness Products Company, USA. As on date, Sayaji Sethness is the largest manufacturer of Liquid Caramel Color in India. With the completion of the transaction, Roquette Group will be the ultimate owner of the company.
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