Camlin Fine Chemicals buys Italy’s Borregaard

Camlin Fine Chemicals on Wednesday said that it has acquired Italian chemicals firm Borregaard for an undisclosed sum. Borregaard is one of the five global producers of Hydroquinone, a key raw material for chemical products.

“Camlin Fine Chemicals has successfully closed the deal on March 9, 2010 for acquiring Borregaard, Italy S.p.A,” the company said in a filing to the Bombay Stock Exchange.

The company said post the acquisition, it shall “have assured and steady supply of key raw material which at times remains in short supply in the global market”. The company, however, did not disclose the size of the deal and details of the acquisitions.

In the quarter ended December 2010, Camlin Fine Chemicals had net sales of Rs 42.35 crore, 28 per cent jump over the same period previous fiscal. Last fiscal, the company had net sales of Rs 123.45 crore.

Camlin Fine Chemicals scrips closed the day at Rs 62.45 per share on the BSE, up 6.93 per cent from the previous close.