The country’s largest tyre cord manufacturer SRF has informed regarding the signing of a definitive agreement for the acquisition of Thai Baroda Industries Ltd (TBIL), which is subject to approval of Rehabilitation Court of Thailand.

TBIL, a Thailand-based tyre cord company, has an annual production capacity of about 12,000 tones of dipped nylon tyre cord fabric, and annual sales of $50 million.

The acquisition will cost SRF approximately Rs 100 crore for the fixed assets and other transaction costs.

Gurgaon-headquartered SRF Limited manufactures technical textiles, fluorochemicals, packaging films, and pharma chemicals in India and internationally. The company also provides refrigerant gases that are used for various industrial, commercial, and household applications, such as refrigeration and air conditioning.