Gujarat Fluorochemicals Ltd, a diversified company active in refrigerants, chemicals, entertainment and renewable energy, has agreed to sell stake in its Chinese JV Xuancheng Hengyuan Chemical Technology Company Limited.
“The company has entered into an agreement for sale of its stake in its joint venture company Xuancheng Hengyuan Chemical Technology Company Limited, China. In view of the same, Xuancheng Hengyuan Chemical will cease to be a joint venture company of Gujarat Fluorochemicals Limited on receipt of approval from the relevant regulatory authorities and transfer of Gujarat Fluorochemicals Limited’s shareholding in the JV,” said Gujarat Fluorochemicals in a BSE filing on July 22, 2016.
Xuancheng Hengyuan Chemical Technology, established in 2006, manufactures cyclic organic crudes, intermediates, organic dyes and pigments.
