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Sisco Research Laboratories Pvt. Ltd. acquires Madras Biotech, Chennai
Sisco Research Laboratories Pvt. Ltd. (SRL) acquires Chennai-based biotech company, Madras Biotech (MBT) in a 100% stake-transfer deal.
Madras Biotech, an enterprise based in the city of Chennai, Tamil Nadu, engages in the manufacture of a range of products suitable for advanced molecular biology and biotechnology techniques, typically DNA & Protein Markers and PCR Products. Due to the growing potential in the biotechnology industry SRL had introduced it's own BioLit™ range of products to the Indian and Global research markets. Says Managing Director (SRL), Mr. S.K. Agarwal, "In 3 short years, we have successfully generated the momentum required for the brand BioLit™ to be known by many of the major institutions and universities across India and to many Asian & European countries. These products will in the near future, be completely produced to the chennai (BioLit™) unit of the Company."
From late October 2011 SRL will begin the next phase of streamlining and merging the operations of this division into the SRL framework and will invest for further expansion and R&D.
Says Mr. Akash Agarwal (Director, SRL), "This acquisition is all the more important for us since it marks the first ever acquisition deal by SRL in it's 37-year history."