Udaipur based SAH Polymers Ltd and FIBCORP Polyweave Pvt. Ltd have decided to merge their operations. This merger will results in significant synergy and immense value addition by opening new markets and ability to shell out a new range of products whilst attracting diverse talent from the industry by complimenting each other’s strength.
The combined production capacity post merger including their new factory under construction will yield a gross annual revenue in excess of Rs. 150 Crore (USD 20 Million) with a global presence in over 28 countries.
SAH Polymers, which is headed by Asad Daud is a 3 decade old enterprise involved in the manufacture and export of PP Woven Sacks and fabric. FIBCORP Polyweave on the other hand, was founded by Murtaza Asgar Ali Motiwala 4 year ago and specialises in manufacture and export of Bulk Bags. The resultant entity, comprising of 3 manufacturing units in Udaipur and two international sales offices, one each in Texas (USA) and Dubai (Middle East) will be headed by CA Murtaza Asgar Ali Motiwala as Group Managing Director and CEO.
Interestingly, it has been learned through sources close to the operations (name withheld) that the merged entity is exploring the possibility of a large public issue in the not so distant future, in order to aggressively fund capacity expansion as well as cross border takeovers and acquisitions.