The board of ZACL approved the sale of the plant, located in Goa, earlier this year.
As a result of the acquisition, PPL shall acquire the business of developing and manufacturing urea and non-urea fertilizer products presently being carried out by ZACL at Zuarinagar.
PPL, part of the Adventz Group, is engaged mainly in the manufacture and sale of non-urea fertilizers, namely, diammonium phosphate and NPK fertilizers. It also imports and sells muriate of potash.
ZACL, a public listed company, is also a part of the Adventz Group. It is primarily engaged in the development and manufacturing of fertilizers in India.
