NEWS

Mumbai:

In this age of ecommerce, you would rarely find next-generation scions in prominent business fam-ilies plunging into risky manufacturing business and transforming it into a profitable one in the face of odds. But Ashish Dandekar, third generation scion of the Camlin Group, which made school stationery products such as geometry box a household.

Camlin Fine Sciences (CFS) has been a trusted name in the antioxidant industry for more than 25 years, and continues that legacy with the acquisition of Dresen Quimica S.A.P.I. de C.V., Mexico, to cover Central America and Andean States. CFS acquires 65% stake in Dresen and its group companies, a leading player in the Mexican food and feed blends business.

Camlin Fine Sciences has entered into a Share Purchase Agreement to acquire 51% stake in Ningbo Wanglong Flavors and Fragrances Company Limited (Wanglong). Wanglong, a leading vanillin manufacturer produces vanillin through a patented process in its 3500 sq.m dedicated facility in the coastal city of Yuyao, Zhejiang province.

Camlin Fine Sciences Ltd. along with its subsidiary CFS Europe SpA, has jointly acquired 51% stake in Ningbo Wanglong Flavors and Fragrances Company Limited, China. The newly formed entity designated as CFS Wanglong manufactures and markets flavour and fragrance (Vanillin) directly to food manufacturers, distributors and to industrial customers globally. With this joint association, CFS becomes the 3rd largest producer of Vanillin in the world.

The stock of Camlin Fine Sciences was buzzing on the bourses during Wednesday's trade. The stock moved up more than 4 per cent on Wednesday.The company announced that has signed a preferred supplier agreement with the American company, Lockheed Martin Advanced Energy Storage.