Camlin Fine Sciences on Thursday informed the exchanges that its subsidiary has acquired 65 per cent stake in Dresen Quimica SAPI.de.CV, Mexico, along with its group companies. CFS Antioxidantes De Mexico, a subsidiary of Camlin Fine Sciences, has made the acquisition for $7.8 million. The group companies are Industrias Petrotec de Mexico, Nuvel, SAC, Peru, Sritec SA, Guatemala, lnovel SAS, Colombia and Grinel SA, Dominican Republic. According to the December 31, 2015 balance sheet, combined net sales (along with that of group companies) stood at $16.45 million. Dresen is engaged in manufacturing and distributing specialty intermediate chemical solutions used by feed, food and other industrial products. Shares of Camlin Fine Sciences edged up 1 per cent at ₹97.4 on the NSE.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.