Fineotex Chemical Acquires Equity Interests in Four US-based Companies for Strategic Expansion in Specialty Chemical Sector

Fineotex Chemical Limited, through its wholly-owned subsidiary, Fineotex Biotex Healthguard FZE, has entered into definitive agreements to acquire equity interests in four US-based companies: FrackMex Equipment and Services LLC, CrudeChem Technology LLC, Oil Pro Advantage INC, and Lonestar Technoboost LLC. The combined turnover of these companies for the financial years 2024-25, 2023-24, and 2022-23 are USD 5,30,21,551, USD 6,60,20,516, USD 5,30,56,505, USD 32,45,478, USD 64,88,472, USD 43,56,554, USD 1,11,44,958, USD 28,09,049, and USD 94,01,231 respectively. These acquisitions are expected to enhance Fineotex's strategic roadmap and expand its business in the specialty chemical sector. The acquisition of CrudeChem Technology LLC, FrackMex Equipment and Services LLC, Oil Pro Advantage INC, and Lonestar Technoboost LLC is done at arm's length and is not a related party transaction. Fineotex Biotex Healthguard FZE will acquire 53.33% stake in each of these companies with a total cost of acquisition of up to USD 1,10,07,360, USD 1,79,200, USD 8,960, and USD 4,480 respectively.