Teknovace

Remmers Gruppe SE will invest Rs 300 crore to acquire a 50.01% stake in Teknovace, a wood coatings company, in two tranches. The partnership aims to expand Teknovace's manufacturing capabilities and establish a global R&D centre in India.

Remmers Gruppe SE plans to make a ₹300 crore strategic equity investment in Teknovace to acquire a 50.01% stake in two tranches. The funds will be used to expand wood coatings production capacity from 6,000 to 60,000 tonnes per annum and set up an integrated UV coatings facility in India.