Camlin Fine Chemicals has received an approval from High Court of Bombay for the proposed scheme of amalgamation of Sangam Laboratories, a wholly owned subsidiary of Camlin Fine Chemicals (Transferor Company) with Camlin Fine Chemicals (Transferee Company). The company has already received an approval for the same at its board meeting held on October 11, 2010.
Further, the company has filed the certified copy of the said High Court Order along with the scheme of amalgamation with the registrar of companies, Mumbai, on May 19, 2011 and accordingly the scheme has become effective as on May 19, 2011. Consequently the transferor companies stands dissolved without winding-up.
Besides, Camlin Fine Chemicals has successfully closed the deal of acquiring Italy- based Borregaard engaged in manufacturing fine chemicals. Borregaard is one of the five global producers of Hydroquinone, which is the key raw material for the company’s major product. With this acquisition the company has been assured of steady supply of key raw material which at times remains in short supply in the global market.
Camlin Fine Chemicals is the world’s second largest manufacturer and marketer of food grade antioxidants as TBHQ and BHA.
