Business Standard: January 02, 2017
Mumbai: Camlin Fine Sciences (CFS) has entered into an agreement to acquire 51 percent stake in Chinese chemical company Ningbo Wanglong Flavors and Fragrances Company Ltd (NWFFCL).
Incorporated in November 2015, NWFFCL is a part of proposed joint venture between CFS and Wanglong Group Company. NWFFCL is be engaged in research, development and manufacture of flavour and fragrance products (vanillin), import and export of goods and technologies. It sells its products directly to food manufacturers, distributors and to industrial customers globally.
“Wanglong's production facility is strategically located in China and utilises propriety processes and technology. NWFFCL possesses market knowledge, strong distribution channels, flexible manufacturing capabilities and demonstrated brand loyalty. Post JV with Wanglong Group, NWFFCL will have relevant processes and equipment in operation besides adequate installed capacity for operations to support future growth,” said Camlin Fine Sciences in a BSE filing on December 23, 2016.
CFS has its own plant in Ravenna (Italy) that produces catechol - the basic ingredient used to make vanillin and ethyl vanillin. As one of the leading manufacturers of these products from catechol origin, Camlin Fine Sciences uses an environment-friendly and clean method which is preferred by the food & flavour industry. Vanillin is also widely used to enhance finished fragrances in the perfume & fragrance industry.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.