Sterling Biotech acquires gelatin unit in China
08 September 2007
Mumbai: Sterling Biotech Ltd, the largest manufacturer of gelatin in Asia, has acquired a Chinese company to expand its presence in the world''s fastest growing economy.
"We have acquired a Chinese company and are in the process of expanding the facility," Nitin J Sandesara, chairman and managing director of Sterling Biotech Limited said on the sidelines of the inaugural annual meeting of the New Champions organised b y the World Economic Forum (WEF) at Dalian.
While Sandesara did not reveal the name of the Chinese company, he said it was located ''near Beijing''.
Industry sources said Sterling has invested millions of dollars in China venture and it currently holds nine per cent of the global market for gelatin. The company has manufacturing plants in Gujarat and Tamil Nadu.