The board of Thirumalai Chemicals has approved a proposal to set up a subsidiary to establish and operate a food ingredients manufacturing facility (including malic and fumaric acid) in the US.
The facility will have capacity of about 30,000 tonnes a year, to address the growing demand in the global market, including North America, the company said in a statement. The stock of Thirumalai Chemicals closed 3.40 per cent higher at ₹63.95 on the BSE.