Camlin Fine Chemicals Ltd acquires Borregaard Industries Ltd's subsidiary

Camlin Fine Chemicals Ltd has acquired UK-based Borregaard Industries Ltd's subsidiary, Borregaard Italy. The acquisition is part of Camlin Fine Chemicals backward integration strategy. Borregaard, Italy manufactures Hydroquinone, which is a petrochemical based product, the basic starting material required for Camlin Fine’s major product range of food antioxidant and products like TBHQ, BHA.

The closing of the agreement is expected to be completed by February 2011. Camlin Fine Chemicals' net profit rose 36.9% to Rs 1.93 crore on 24.9% increase in net sales to Rs 36.49 crore in Q2 September 2010 over Q2 September 2009. The investment is expected to improve the firm’s overall performance and bolster its position in the chemicals space globally.

Camlin is a pioneer in art & stationery material space in India with around seven decade’s experience. Camlin diversified into Pharmaceuticals and Fine Chemicals two decades ago. Today Camlin Fine Chemicals is the world's second largest manufacturer and marketer of food grade antioxidants TBHQ and BHA. Its facilities are HACCP and ISO 9001: 2000 certified. On the 22nd of December 2006, Camlin Limited, Fine Chemical Division de - merged into a separate company named as Camlin Fine Chemicals Limited (CFC ltd).

The entire management team and employees of Camlin Fine Chemicals Division are now a part of the independent legal entity formed under the Indian Companies Act 1956. This de-merger has enabled the firm to grow at a faster pace and serve its customers and markets better in today's globalized environment. The firm has been manufacturing Fine Chemicals and Bulk Drug Activities for two decades at its FDA approved plant at Tarapur, Boisar with a wide range of products.

Borregaard has one of the world's most advanced and sustainable biorefineries. By using natural, sustainable raw materials, Borregaard produces advanced and environmentally friendly biochemicals, biomaterials and bioethanol that can replace oil-based products. Borregaard also holds strong positions within additives, fine chemicals and energy.

Borregaard is a part of Orkla and has 1,300 employees in factories and sales offices in 20 countries throughout Europe, the USA, Asia and Africa.  In 1986 the two companies Orkla Industries and Borregaard merged into one company - Orkla Borregaard. When Orkla Borregaard merged with Nora Industries in 1992, the new company took the name Orkla, and the Chemicals business area kept the Borregaard name. Sarpsborg is still the headquarters for Borregaard.

16 Dec 2010.