Refex Regrigerants picked up stake in Kaltech Engg

Thebullishtrends:Refex Refrigerants share price closed yesterday at Rs. 156.60. Refex Refrigerants Ltd has informed that the company has now picked up a 51% stake in Singapore based Kaltech Engineering and Refrigeration Pte Ltd for S $ 11 Millions (Rs 31 Crores) which is engaged in trading Refrigerant gases catering to both, the domestic and export Markets. During the course of this current year, the Company would further acquire 39% for S $ 8.80 millions (Rs 25 Crores) thereby increasing its holding to 90% in Kaltech. Synergies of this acquisition will be reflected in the form of enhanced growth and significant contribution to the margins. With the buyout, the Company aims to become one of the biggest re-fillers in Asia in the next two years.