Neogen Chemicals shines on inking pact to acquire 100% stake in BuLi Chem from Livent

Neogen Chemicals shines on inking pact to acquire 100% stake in BuLi Chem from Livent

by 5paisa Research Team Last Updated: Mar 06, 2023 - 05:27 pm 242 Views

Shares of Neogen Chemicals Limited have gained more than 6% in today’s trade.

Agreement with Livent Corporation

Neogen Chemicals has entered into a definitive agreement with Livent Corporation to acquire 100% stake in BuLi Chemicals India (BuLi Chem) from Livent. BuLi Chem owns the technology to manufacture N Butyl Lithium and other organolithium products using lithium metal, which are key reagents for lithiation reaction used in manufacturing of several complex pharmaceutical and agrochemical intermediates.

BuLi Chem manufactures and supplies N Butyl Lithium to several leading pharma and agrochemical companies in India and across the world and is built one of the very few commercial facilities outside of China for this chemistry.

This acquisition will boost Neogen’s portfolio by offering organolithium derivatives to existing pharma and agrochemical industries and further enhance its advanced intermediates & CSM manufacturing business.

Share price movement of Shree Cement Limited

Today, the stock opened at Rs 1315.40, with a high and low of Rs 1386 and Rs 1315.40. The stock closed trading at Rs 1374.15, up by 6.56%.

The stock has a 52-week high of Rs 1792.00 and a 52-week low of Rs 1127. The company has a ROCE of 14.2% with a market capitalisation of Rs 3,428 crore.

Company profile

Neogen Chemicals is one of India’s leading manufacturers of bromine-based, and lithium-based, specialty chemicals. The company manufactures specialty organic bromine-based chemical compounds (Bromine Compounds) and other specialty organic chemical compounds as well as specialty inorganic lithium-based chemicals compounds (Lithium Compounds and together with the Bromine Compounds the Products). In addition to manufacturing its standard products, the company also undertakes custom synthesis and contract manufacturing.

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