Engineering Stock Rallies As Its Arm Set To Acquire 100% Stake In Mix Pro

Shares of mid cap company operating in engineering sector, GMM Pfaudler Ltd on Friday rallied over 4% after its wholly owned subsidiary, GMM Pfaudler US Inc has entered into an agreement to acquire 100% stake in MixPro. Current market price of GMM Pfaudler share on BSE is Rs 1844.60 per share with intraday gain of 4.50%. GMM Pfaudler stock offered shareholders return of 27% in last 3-months and fell 4% in 1-year. Check details below about GMM Pfaudler:

GMM Pfaudler Shares Soar As Its Subsidiary To Acquire Mix Pro: According to the BSE filig of the company dated September 14, 2023, "GMM Pfaudler Ltd through its wholly owned subsidiary GMM Pfaudler US Inc., has entered into an agreement on September 14, 2023, to acquire 100% share capital of Professional Mixing Equipment Inc. ("MixPro"). A total consideration of USD 7 million will be paid to acquire MixPro and the transaction will be funded through internal accruals and is expected to close by October 2023."

Tarak Patel, Managing Director at GMM Pfaudler said, "The acquisition of MixPro is in line with our strategy of building our Mixing Technologies business, it enhances our product portfolio and also further strengthens our process know-how & simulation/testing capabilities. With the acquisitions of MixPro and Mixel now complete, we have created a global Mixing technology platform that can cater to a wide range of industry segments."

GMM Pfaudler Stock Outlook & Return: Current market price of GMM Pfaudler stock is Rs 1844.60 apiece. Its 52-week high is Rs 2189.50 per share and 52-week low price is Rs 1350.00 apiece, respectively. It has a market capitalisation of Rs 8257.74 crore. GMM Pfaudler gained 25% in last 2-years, fell 6% in last 3-years, and surged 394% in last 5-years. In last 10-years, GMM Pfaudler shares witnessed a strong rally of 7608%.

About GMM Pfaudler Ltd: GMM Pfaudler Ltd delivers corrosion-resistant technologies, systems, and services worldwide and remains the preferred choice by consistently providing its customers in the chemical and pharmaceutical industries with innovative and costeffective solutions. GMM Pfaudler has 18 facilities with an extensive sales and service network and employs more than 1,800 people across 4 continents. As part of our global ambitions, we continue to make Big Moves that will allow our people, customers, and the communities we operate in to grow.

About MixPro: MixPro, a producer of agitators and mixers, specializes in the design and manufacture of standard and customized Mixing systems used across various industries including Mineral Processing, Pulp & Paper and Flue Gas Desulfurization. MixPro is located at Brampton, Canada and employs 17 people.