Deepak Fertilisers demerges its mining chemicals and fertilizer business

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) will demerge its fertilizer and mining chemicals business in a move described as a strategic shift from commodity to specialty.

Smartchem Technologies, a wholly owned subsidiary of DFPCL, will become the crop nutrition arm of DFPCL, with Deepak Mining Services Private Ltd (DMSPL) becoming the arm for mining chemicals.

Based in India, DFPCL is a major producer of technical ammonium nitrate (TAN) used as an explosive in the mining industry. The TAN business will transfer from STL to DMSPL as part of the restructuring. The company is also a major producer of water-soluble fertilizers.

"The proposed corporate restructuring shall considerably help create strong independent business platforms within the larger DFPCL brand umbrella, hence enhancing stakeholders' value over time," said Mr. Sailesh C. Mehta, Chairman, and Managing Director.

Read the complete article at www.informaconnect.com.  


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