Thursday, September 22, 2011

Astral Poly Technik in JV Talks with Lubrizol ........Warren Buffet is here again...

MUMBAI - India's Astral Poly Technik Ltd. Thursday said the company is in preliminary talks with U.S.-based specialty chemical company Lubrizol Corp. to set up a plant in the country's western state of Gujarat.
Earlier Thursday, the Business Standard newspaper reported that Lubrizol, part of Berkshire Hathaway Inc., is in talks with Ahmedabad-based Astral Poly to set up a chlorinated polyvinyl chloride unit at Dahej in the state.
"We wish to clarify that the discussions are at very preliminary stage and the same are subject to detailed negotiations. The company would announce its final plans as and when things are finalized," Astral Poly said in a regulatory filing.
The newspaper also reported that Lubrizol executive Tom Frubus and Astral Poly Managing Director Sandip Engineer Wednesday met Gujarat Chief Minister Narendra Modi and other government officials to discuss the planned investment in the state.
Astral Poly is a maker of plumbing systems for residential and industrial applications and also specializes in a range of plastic products.
My Commnets:
No wonder Astral Polytechnik was up by over 18%.....I remember I talked about WB stake in Lubrizol and discussed about Savita Oil Technology.........Looks like WB is bullish on Oil sector....

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