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Shinryo Corp to acquire clean room partition maker GMP Technical Solutions

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Japanese conglomerate Shinryo Corporation is set to acquire an 85% stake in Indian clean room partition maker GMP Technical Solutions. The move, pending regulatory approval, will see Shinryo acquire the stake from Pune-based engineering and real estate company Vascon Engineers for an equity valuation of INR1.85bn ($25m). GMP Technical Solutions is currently India's second-largest clean room equipment supplier, with notable clients including the pharmaceuticals, biotechnology and lithium-ion battery sectors. Shinryo said the partnership will help it expand in India, with demand for clean room partitions rising in sectors such as electronics, semiconductor manufacturing and batteries.