The purchase includes an industrial area in the city of Halol, Gujarat) including compound lines and R&D laboratories.
"In the Indian market, a strong presence is required to react to growth opportunities in sectors with short and responsive production chains," said Maurizio Radici, vice president and COO of RadiciGroup.
"Having its own production plant in India, the group will be able to build on its well-established commercial presence in the country," added CEO Luigi Gerolla. "This site, together with the one under construction in China, is an additional building block to enlarge the Group's footprint on the Asian continent and realize its growth potential; it also furthers the Group's internationalization strategy."
The acquired production site will become operational at the beginning of the year 2023, the company said.