Aksh Optifibre to complete acquisition of Unitape within 15-20 days

akshAksh Optifibre Ltd. will complete the acquisition of Unitape Mandovi Pvt. Ltd.Composites within 15-20 days, the company said.

It said it decided to buy Unitape as it was engaged in the business of manufacturing fibre re-inforced plastic (FRP) rods. Aksh said FRP rods was also its own main line of business.

Unitape has a production capacity of 2.16 lakhs km of FRP rods per year.

Aksh Opitifibre is acquiring 100% of Unitape and intends to maintain market leadership through this acquisition in the manufacturing of FRP.

The acquisition does not require any governmental or regulatory approvals, Aksh Optifibre said.