The biggest nylon tyre cord manufacturer of India, SRF announced that it would acquire Thai Baroda Industries (TBIL) in the same trade in Thailand which is in the throes of corporate rehabilitation for Rs 100 crore (about $23.36 million). The company is planning an injection of additional funding. TBIL, which is a joint venture of Baroda Rayon Corporation of India and PB Group of Thailand, has an annual production capacity of 12,000 tons and sales of about $ 50 million.

SRF currently has four tyre cord production units in India and a wholly owned subsidiary unit in Dubai, and the combined annual production capacity following this acquisition will rise to 65,000 tons, which enables SRF to emerge as the third largest tyre cord manufacturer in Asia and fifth largest in the world.

Besides tyre cord, SRF manufactures synthetic textiles, polyester film, refrigerant gases and fluorinated chemicals.