Gujarat Fluorochemicals Ltd, a diversified company active in refrigerants, chemicals, entertainment and renewable energy, has agreed to sell a stake in its Chinese JV Xuancheng Hengyuan Chemical Technology Company Limited.
“The company has entered into an agreement for a sale of its stake in its joint venture company Xuancheng Hengyuan Chemical Technology Company Limited, China. In view of the same, Xuancheng Hengyuan Chemical will cease to be a joint venture company of Gujarat Fluorochemicals Limited on receipt of approval from the relevant regulatory authorities and transfer of Gujarat Fluorochemicals Limited’s shareholding in the JV,” said Gujarat Fluorochemicals in a BSE filing on July 22, 2016.
Xuancheng Hengyuan Chemical Technology, established in 2006, manufactures cyclic organic crudes, intermediates, organic dyes and pigments.
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