Camlin Fine Sciences acquires 65 pc stakes in Mexico’s Dresen

Camlin Fine Sciences acquires 65 pc stakes in Mexico’s Dresen

9:21 AM, 6th February 2016
Camlin Fine Sciences acquires 65 pc stakes in Mexico’s Dresen

MUMBAI, INDIA: Camlin Fine Sciences Ltd, through its subsidiary CFS Antioxidantes De Mexico said that it 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).With the acquisition of Dresen, Camlin will expand its market reach in the North, Central and South America, it said.

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.

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