ASAHI SONGWON COLORS ACQUIRES ATLAS LIFE SCIENCEENTERS INTO API BUSINESS
Ahmedabad, 18th April 2022: Asahi Songwon Colors Limited (“the Company” or “Asahi”), a market leader in the Indian pigments industry, announced the acquisition of a 78 % in Atlas Life Sciences Private Limited (“Atlas”), a manufacturer of bulk pharmaceutical ingredients (APIs), for an all-cash consideration of INR 48 crores. The Board of Directors unanimously approved the acquisition, which includes a fully operational WHO GMP certified manufacturing facility in Odhav, Ahmedabad, a 4,000 square-foot state-of-the-art R&D facility, a 5,000 square-foot corporate office, and a 15,000-square-meter land parcel in Chhatral with EC permission for 32 products, for future expansion activities. ABOUT ATLAS…