GMM Pfaudler to Establish Manufacturing Facility in Poland with 51% Stake in Polish Firm
GMM Pfaudler Ltd, a global leader in corrosion-resistant technologies, announced plans to set up a manufacturing unit in Poland to enhance its production capabilities in Europe. The company, through its German subsidiary Pfaudler GmbH, signed an Investment and Shareholders’ Agreement on December 20 to acquire a 51% stake in a Polish limited liability company, according to a stock exchange filing on Monday, December 23.
This acquisition aims to establish a manufacturing and engineering facility in Poland, enhancing its global manufacturing capabilities and competitiveness.
The acquired entity specializes in the manufacturing of high-quality stainless-steel equipment for the pharmaceutical and food industries.
An investment of PLN 12.2 million will be made to establish this facility, and the transaction will be funded through internal accruals, according to reports.
“This acquisition reflects our continued focus on delivering cost-effective, high-quality solutions for our customers. Establishing this facility in Poland aligns with our vision of strengthening our market presence in Europe and beyond,” Thomas Kehl, CEO of International Business, said.
GMM Pfaudler provides corrosion-resistant technologies, systems, and services to the chemical and pharmaceutical industries. With 20 manufacturing sites and a vast sales and service network spanning four continents, the company employs over 2,000 people and continues to focus on innovation and customer-centric solutions.
The Patel family is the largest shareholder in GMM Pfaudler Ltd.
On the stock market, GMM Pfaudler shares were trading 0.55% lower at ₹1,212.9 on the BSE as of 10:11 am. The stock has faced challenges, declining 9% over the past six months and 24% year-to-date in 2024. Overall, shares have dropped by 23.8% in the past year.