Joint Venture18 Sept 2026, 02:49 pm
Grasim JV to temporarily idle Nackawic pulp mill by Oct 2026
AI Summary
Grasim Industries' Joint Venture, AV Group NB Inc. (AVNB), will temporarily idle its Nackawic pulp operations facility in New Brunswick, Canada, around the end of October 2026. This facility has a capacity of approximately 190,000 TPA of dissolving-grade pulp. AVNB operates two mills with a total capacity of ~332K TPA. Grasim holds a 45% stake in AVNB, with a total investment of ₹187.41 crore (comprising equity of ₹153.04 crore and preference shares of ₹34.37 crore). The decision is attributed to continuing challenges from prevailing market conditions and broader macroeconomic factors.
Key Highlights
- Grasim's JV, AVNB, to temporarily idle Nackawic pulp mill.
- Nackawic mill has 190K TPA dissolving-grade pulp capacity.
- Decision driven by challenging market and macroeconomic factors.
- Grasim holds 45% stake in AVNB, invested ₹187.41 crore.
Price Impact
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