MUMBAI: Aditya Birla Chemicals (India) on Friday said its board of directors has approved acquisition of the Chlor-Alkali & Phosphoric Acid Division (CA&P Division) of Solaris Chemtech Industries for a cash consideration of Rs 153 crore. This transaction will enable the entry of Aditya Birla Chemicals, a unit of Aditya Birla Group, into the Southern Indian market as well as the addition of phosphoric acid to its current product portfolio, a company statement said here. “This strategic acquisition further strengthens our position in the Chlor-Alkali business. It will take our Chlor-Alkali business on a higher growth trajectory and marks our entry into a new market segment of Phosphoric acid. The acquisition bolsters caustic soda supply, which is a critical input for both our Aluminium and VSF businesses,” Aditya Birla Group Chairman, Kumar Mangalam Birla said. Lalit Naik, Business Head for Chemicals, Aditya Birla Group said, “This is a strategic acqui...