 "Camlin Fine Sciences buys 65% stake in Mexico's Dresen")
Camlin Fine Sciences, through its subsidiary CFS Antioxidantes De Mexico, has entered into an agreement to acquire 65 percent stake in Dresen Quimica, the Mexico-based specialty chemicals company, for about $ 7.8 million (about Rs 52 crore).
Dresen, incorporated in 1987, manufactures specialty intermediate chemicals used by feed, food and other industrial product manufacturers. The company has operations in five countries - Mexico, Guatemala, Peru, Colombia and Dominican Republic. Dresen, along with its group companies, recorded revenues of $ 14.8 million in 2014.
With the acquisition of Dresen, Camlin Fine Sciences will expand its market reach in the North, Central and South America.
Dresen, incorporated in 1987, manufactures specialty intermediate chemicals used by feed, food and other industrial product manufacturers. The company has operations in five countries - Mexico, Guatemala, Peru, Colombia and Dominican Republic. Dresen, along with its group companies, recorded revenues of $ 14.8 million in 2014.