Matrix to acquire residual holding in China''s Mchem group

25 Aug 2007

Mumbai: Matrix Laboratories Ltd has executed definitive agreements to acquire the residual holding of Mark Gao, the erstwhile promoter of Mchem group of companies of China. The company had earlier acquired 60 per cent equity in Mchem group as a part of its backward integration strategy to secure the supply chain for intermediates.

This acquisition would be subject to various approvals that are required to be obtained, the company said in a filing with the Bombay Stock Exchange (BSE).