Paradeep Phosphates to acquire Mangalore Chemicals & Fertilizers for $199m.

Paradeep Phosphates, a phosphatic fertilizer manufacturing company, agreed to acquire Mangalore Chemicals & Fertilizers, a chemical fertilizers manufacturer, for $199m. “Consolidation of PPL and MCFL will mark a significant leap forward in our growth strategy and the resultant entity will be able to cater to the diverse soil needs of the country. We will be able to reap benefits of economies of scale, optimize product mix, enhance distribution reach and supply chain capabilities and leverage on each other potent synergies. This will result in unlocking tremendous value and drive sustainable growth for our shareholders, employees, and partners,” Suresh Krishnan, Paradeep Phosphates Managing Director & CEO.