The Chennai-based Sanmar Group on Tuesday announced the sale of the closely held Bangalore Genei (India) (BGIP) to Merck Specialities.BGIP is a part of the speciality chemicals business of The Sanmar Group.
BGIP specialises in the development, production, marketing and sales of products for proteomic and genomic research. With its more than 100 employees, the company generated total revenues of Rs 20.2 crore in 2008-09.
Mr. V Ramesh, Managing Director, Sanmar Speciality Chemicals, commented: "This move will help Sanmar Speciality focus on its core business of fine chemicals, intermediates for agrochemicals and pharmaceutical industries, contract research and phyto chemical based active pharma ingredients".
He also said Bangalore Genei is India’s leading company in the field of biotechnology based reagents and it will find a good parent in Merck with its extremely strong market presence worldwide and successful business history.