Camlin Fine Sciences Acquires 51% in China Firm; Stock Hits New One-Month High | CORPORATE ETHOS

Camlin Fine Sciences Acquires 51% in China Firm; Stock Hits New One-Month High

By: | July 12, 2017
CFS

July 12: Camlin Fine Sciences Ltd (CFS), a leading manufacturer and exporter of antioxidant and other ingredients, on Wednesday said that the company and its subsidiary CFS Europe SpA, Italy has jointly acquired 51% stake in Ningbo Wanglong Flavors and Fragrances Company Ltd, China.

According to the company, 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, it said.

It further said that the current development of partnering with Wanglong will ensure supply of high quality vanillin and will benefit CFS’ customers across the globe.

Wanglong, a leading vanillin manufacturer produces vanillin in its dedicated facility in the coastal city of Yuyao, Zhejiang province. CFS’ manufacturing plant in Ravenna, Italy produces Catechol, the basic material used to make Vanillin and Ethyl-Vanillin.

“Our fully integrated supply chain can ensure the highest standards of vanillin that can offer complete traceability from Catechol to Vanillin. It gives Vanesse the most desired, sweetest and creamiest olfactory notes one could wish for. Each batch is carefully tested by our food flavourists so that we deliver our customer requirements with consistency,” the company said in a statement.

To support future growth, CFS Wanglong will introduce relevant processes and equipment besides existing installed adequate capacity for operations.

“With our manufacturing facilities spread across four continents, China will further boost CFS’ access into the global market. Our flavours and fragrances segment will contribute to a large portion of our business in the near future. CFS’ global network along with deep industry knowledge is helping the company set new benchmark through the delivery of high-quality innovative ingredients across geographies. It also epitomizes our vision for growth,” the company added.

Based in Mumbai, Camlin Fine Sciences is a provider of high-quality aroma ingredients, shelf life extensions solutions including antioxidants and performance chemicals. It caters to the food, pet food and animal nutrition sectors as well as pharmaceutical, dye, biodiesel, petrochemical, agrochemical, textile and tanning industries.

The company’s brands include Vanesse (vanillin) and EvanilTM (ethyl vanillin). It has also launched Floral booster, which is specially developed for incense stick industry to enhance sweet note, sustain burning and aroma-spreading properties along with Intense Green-a fragrance and flavour chemical, and Vetigreen-an aromatic chemical for home cleaning solutions, personal care products, cosmetics and incense sticks.

Shares of the company surged more than 5% to touch a new one month high of Rs 96 intraday Wednesday on BSE after the announcement came in. At 1.19 pm, the Re 1 face value shares were trading at Rs 90.70, up 1.06% from the previous closing of Rs 89.85.