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Press Release |
| Your contact Sanmar Speciality Chemicals S B Prabhakar Rao Tel + 91-44-2812 8500 |
| Chennai, India, October 13, 2009 - The Sanmar Group announced today the sale of Bangalore Genei (India) Private Ltd. (BGIP) to Merck Specialities Private Ltd. BGIP is a part of the Speciality Chemicals business of The Sanmar Group. |
| BGIP is located in Bangalore and specializes in the development, production, marketing and sales of products for proteomic and genomic research. With its more than 100 employees, the company generated total revenues of INR 202m in 2008/09. |
Mr V Ramesh, Managing Director, Sanmar Speciality Chemicals, commented: “This move will help Sanmar Speciality Chemicals focus on its core business of Fine Chemicals, Intermediates for Agrochemicals and Pharmaceutical industries, Contract Research and Phyto Chemical based Active Pharmaceutical Ingredients. Bangalore Genei is India's leading company in the field of Biotechnology based Reagents and it will find a good parent in Merck with its extremely strong market presence worldwide and successful business history”. |
Mehta Partners acted as the Seller's advisors for this transaction. |
| About Sanmar Speciality Chemicals |
Sanmar Speciality Chemicals is a part of the $ 750 million Sanmar Group. Its operations are focused around development of organic chemicals and phyto chemicals for specific customer directed applications. Its contract research arm serves the specialized R&D needs of global pharma and chemical industries providing research, development and process improvements across chemistry and biology platforms. More information about Sanmar Speciality Chemicals can be found at www.sanmargroup.com |
| About The Sanmar Group |
| The Rs.3500 crore (USD 750 million) Sanmar Group is a conglomerate with diversified interests across the industry segments – Chemicals, Engineering, Metals, Speciality Chemicals and Shipping. Significant business initiatives taken in the last three years have transformed the Group's single-nation operations into a global presence, encompassing five countries across four continents. Headquartered in Chennai, India, Sanmar's manufacturing facilities are located in India, Germany, Egypt, the US and Mexico. |
| Sanmar Speciality Chemicals Ltd Phone : +91-44-2812 8500 Fax : +91-44 2811 2185 Email : spl-chem@sanmargroup.com Internet : www.sanmargroup.com |
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