INDUSTRIAL OXYGEN COMPANY: NOT REALLY HOT AIR
Article Abstract:
Air Products and Chemicals of USA plans to acquire up to 50 percent stake in Industrial Oxygen Company through its subsidiary - Prodair Corporation. It has signed an agreement for buying 23.36 percent stake from the promoters of Industrial Oxygen Company. Air Products and Chemicals plans to acquire shares at Rs375 each from the public through an open offer. The public has 26.64 percent stake in Industrial Oxygen Company. Air Products and Chemicals is likely to acquire at least 17 percent stake from the public. Industrial Oxygen Company has a paid-up share capital of Rs10.37 crore. It produces industrial and medical gases and makes air separation plants. Its sales were Rs150.06 crore in 1997-98. Its operating profit was Rs42 crore. Its operating profit margin was 28 percent. Its net profit margin was 10.8 percent. Its net profit was Rs16.80 crore. Its earning per share was Rs15.50. Its turnover fell by 3.5 percent at Rs66.78 crore in the first half of 1998-99. Its operating profit was Rs17.28 crore. Its net profit was Rs7.39 crore. (rk) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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CEPHALOSPORIN RUSH TURNS SPOTLIGHT ON 7-ACA
Article Abstract:
Lupin Chemicals (LC) has acquired the cephalosporin C and aminocephalosponaic acid (7-ACA) unit of Max-GB. Consequently, LC has shifted the focus to 7-ACA, a key input of many third and fourth generation cephalosporins. The focus has shifted to 7-ACA as most of the third and fourth generation cephalosporins will be going off patent worldwide in the next 4 years. This would open big markets for Indian generics companies. The acquisition will help LC to become a fully integrated player in the cephalosporins market. Alembic Chemicals, a fermentation company, also plans to manufacture cephalosporin C, a precursor of 7-ACA, and sell it in the open market. It also plans to export these products. Gujarat Themis Biosyn Ltd, another fermentation company, also plans to set up a facility at Vapi in Gujarat to make 7-ACA. (ag)
Comment:
Acquires cephalosporin C and aminocephalosponaic acid unit of Max-GB
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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