Mumbai : Sayaji Industries has signed a joint venture (JV) agreement with Societe Developpement Produits Afrique (SDPA), France, the holding company of Alland and Robert for manufacturing of Gum Arabic/ Gum Acacia, Gum Ghatti and Gum blends. The JV will be a 50:50 venture, wherein the Company and Societe Developpement Produits Afrique will hold 50% each in Sayaji Ingritech LLP which is presently a subsidiary of the company.
The Company and SDPA propose to invest 50% each in Sayaji Ingritech LLP for the purpose of manufacturing of Gum Arabic / Gum Acacia, Gum Ghatti and Gum blends with the technology provided by Alland and Robert. Presently the company is holding 75.99% of the capital of Sayaji Ingritech LLP. After entering into this JV, the company will hold 50% and SDPA will also hold 50% in
Sayaji Ingritech LLP the name of which will be changed in future in the manner as agreed to between the partners. The profit sharing ratio will also be 50:50 between the Company and SDPA. Sayaji Industries is one of the largest manufacturers of Starches, Liquid Glucose, Dextrose Monohydrate, Anhydrous Dextrose and Sorbitol in India.