Punjab Chemicals – Updates on Acquisition of SINTESIS QUIMICA, Argentina
Punjab Chemicals & Crop Protection Ltd has informed BSE that SD Agchem (Europe) NV, having its registered office at Belgium, a 100% subsidiary of the Company has signed a Share Purchase Agreement with the promoters of SINTESIS QUIMICA SA, a Company in Argentina (Latin America) for the purchase of shareholding from them. Accordingly, SQ has now become the subsidiary of SD Agchem (Europe) NV, which is the subsidiary of the Company.
The acquisition amount is 10 Million USD.
SINTESIS QUIMICA (SQ) has two state of art manufacturing facilities in the outskirts of Buenos Aires. The Company is engaged in Agro Chemicals, Formulations and Industrial products.
The SQ sales for the financial year ending June’06 was USD 16 million (equivalent to approx Rs 67 crore) and Profit after Tax of 1.5 million USD (equivalent to approx Rs 5.80 crore).
Source:
