Indian Promoters Buy-Out 51% Stake In Ellenbarrie From Air Water Inc


Indian promoters of Ellenbarrie Industrial Gases Ltd, in a buyback association, acquired 51 per cent stake of the corporate from Japanese industrial fuel main Air Water Inc at an undisclosed sum, an Ellenbarrie official mentioned on Monday.

The house is dominated by world leaders like Linde, Air Liquide and the acquisition made Ellenbarrie once more a 100 per cent Indian firm.

In 2013, the Kolkata-based promoters had bought the corporate’s 51 per cent stake to Air Water Inc and delisted Ellenbarrie from bourses.

‘Ellenbarrie Industrial Gases Ltd is now the biggest Indian-owned industrial and medical fuel firm, in an area dominated by the multinational corporations,’ Ellenbarrie ED, Varun Agarwal, mentioned.

The firm has not determined but about itemizing it once more, he mentioned.

‘We have commenced a serious enlargement of 600 MT per day at an funding of Rs 250 crore positioned in Kurnool, Andhra Pradesh,” Agarwal mentioned.

The greenfield plant is anticipated to go business manufacturing within the second half of 2022 and can cater to its rising clientele in Andhra Pradesh, Telangana and Karnataka.

The firm mentioned it has additional elevated its manufacturing portfolio by including a high-purity hydrogen plant in Uluberia, West Bengal, Agarwal mentioned.

Air Water Inc continues to function in India via one other entity, Air Water India. 

(PTI)




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