1. SRF Limited
Corporate Office: Block C, Sector 45, Gurgaon, Haryana-122003
Regd. Office: A-16, Aruna Asaf Ali Marg, Qutab Institutional Area, New Delhi- 110 067
For Immediate Release
SRF Signs Agreement for Acquisition of a South African Company
- Becomes world’s 2nd largest player in Belting Business
New Delhi, July 14, 2008: SRF Limited, the domestic market leader in technical textiles,
refrigerant gases and a preferred supplier of other fluorochemical products and
polyester films, has announced the signing of a definitive agreement for the acquisition
of the belting fabrics business of Industex Technical Textiles (Pty) Limited, a South
African company today. The South Africa-based company has an annual production
capacity of approximately 3,500 tonnes of Belting Fabrics with annual sales of around
$16 million. With this deal, SRF improves its world ranking from the 3rd largest player
to 2nd largest player in the arena of Belting Fabrics Business.
Presently, SRF has a capacity of 7,500 TPA belting fabrics which are manufactured in its
plant at Trichy. India’s largest player in belting business, SRF is the market leader with
50% market share. The company’s exports account for 57% of the sales.
The acquisition that is coming through one of SRF’s international subsidiaries will cost
approximately Rs. 20 crore including working capital. Post acquisition, the entity will be
known as SRF Industex Belting (Pty) Limited.
The deal comes close on the heels of Rs. 100 crore definitive agreement signed by SRF for
the acquisition of Thai Baroda Industries Limited (TBIL), a Thailand-based tyre cord
company. The agreement for TBIL was signed on 27th May 2008.
Reflecting on the recent acquisition, Mr. Ashish Bharat Ram, Managing Director, SRF
Limited commented, “We are excited about SRF’s second acquisition in just over a
month, as it firmly places SRF’s belting business on a global map. More importantly, it
gives us an opportunity to enter Africa, a continent of the future. The mining industry,
which is the largest consuming sector for the belting fabrics business, is growing rapidly
over there and it will be our endeavour to expand capacity and develop other synergies
with our Indian operations at the earliest.”
SRF Industex Belting (Pty) Limited will also be a large consumer of SRF’s new Polyester
Industrial Yarn (PIY) facility, being set up at Gummidipoondi in Tamil Nadu. The PIY
project with a total investment of around Rs. 250 crore will become operational by early
2009.
1

2. About SRF Limited
SRF Ltd, a leading industrial group, manufactures Technical Textiles, Fluorochemicals,
Packaging Films and Fluoro Specialities. Commencing operations in 1974, SRF today
operates from eight plant locations in India and abroad and has attained market
leadership position in Nylon Tyre Cord Fabric (3rd largest manufacturer of Nylon6 tyre
cord in the world & approx 36 per cent market share in India), Belting Fabrics (3rd
largest in the world & approx 60 per cent market share in India), Refrigerant Gases
(approx 40 per cent market share in India) and Chloromethane. Currently, SRF’s
products cater to industrial customers in more than 60 countries globally. SRF’s
relentless focus on TQM techniques has resulted in the company winning the
prestigious Deming Application Prize in 2004 for the erstwhile Industrial Synthetics
Business of SRF (now integrated with Technical Textiles business), the first nylon tyre
cord company outside Japan to be awarded this prize.
For further information, please contact
Mukund Trivedy, Vishwajeet/ Sandipan/ Shashank
Head of Corporate Communications, Hanmer- MS&L, New Delhi
SRF Ltd, Ph - 46517700, 9811924919/ 9811206387
Mobile – 9871709177
-Ends-
2