Camlin Fine Sciences has received its board’s approval for setting up a subsidiary in USA in place of joint-venture. The said subsidiary shall undertake manufacturing, trading and distribution of antioxidants, food ingredients, blends, formulations etc in US and Canadian markets and further authorizing the committee/company officials to take necessary steps in this regard.
The board has also gave approval for raising funds not exceeding Rs 150 crore by way of QIP/GDR/ADR/FCCB/other securities linked to equity / preference shares / any instrument or securities representing convertible securities and to increase the authorised share capital of the Company from Rs 13.50 crore to Rs 15.00 crore, subject to approval of shareholders.
Camlin Fine is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).
