Navin Fluorine International (NFIL), which is a part of the Arvind Mafatlal Group, reported that it has acquired stake of 51 per cent in Manchester Organics, UK-based company, at 4.335 million pounds.
Arvind Mafatla Group Chairman, Hrishikesh A Mafatlal, reported that the acquisition of Manchester Organics is a significant step taken by the company, as it is seeking to be amongst the major global companies in specialized fluorination chemistries.
Manchester Organics, which is a privately-held company was established in the year 1996. The company has expertise in laboratory scale multi-step synthesis of a wide variety of organic compounds.
NIFL Managing Director Shekhar Khanolkar, reported that with the acquisition of Manchester Organics, the company will be able to strengthen its capabilities for working on more complex fluorination projects and do value addition to their specialty fluorochemicals portfolio.
The turnover of NFIL stood at USD 100 million. The company has been making investments to build a robust research-driven business model, comprising of CRAMS (Contract Research and Manufacturing Services) business out of its Surat and Dewas sites.