Camlin to launch new products

Camlin to launch new productsJapanese firm Kokuyo’s acquisition of the majority stake in Camlin will help the Indian color and stationery company for introducing new product lines and grow existing business, as per a top Camlin official.

Camlin is a strong player in notebook market in Japan and will get the required investment and technology from Kokuyo.

From Economictimes.indiatimes.com:

To begin with, Kokuyo will invest Rs 59 crore in Camlin by subscription of fresh shares, representing 10% of the expanded equity capital. Then, Kokuyo will spend Rs 155 crore to buy 20.3% stake from the Dandekar family, the promoter of Camlin. Lastly, the Japanese company will spend another Rs 151 crore for purchase of 20% stake from minority shareholders through an open offer. In all, Kokuyo will spend Rs 365 crore.

Post the completion of the transaction, the Dandekar family, which had set up Camlin eight decades ago and had established it as a household brand, will continue to hold 13% stake.

Dilip Dandekar and Shriram Dandekar, chairman and managing director and executive director, respectively, will continue to be on the board of Camlin. However, Dilip Dandekar will become chairman while the company will appoint a professional as managing director. There will be no change in Shriram Dandekar’s responsibility.

Camlin has started looking out for a partner to get into new business segment, according to chairman and managing director Dilip Dandekar.

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