Camlin Fine Sciences to acquire Chinese firm: Camlin Fine Sciences is acquiring a 51% stake in a Wanglong group company. Ningbo Wanglong Flavors and Fragrances is part of the proposed joint venture between Camlin and the Wanglong Group. After the acquisition, NWFFCL will focus on R&D and manufacture of vanillin and other fragrance/flavor products.
Camlin had reported 3% sales growth in Q1FY17, and 18% yoy growth in profits. The company had seen its EBITDA decline 45% yoy due to production disruption at a plant in Italy during the implementation of new tech, and marketing expenses to launch new products in the US.