Fineotex Chemical Ltd Announces Strategic Acquisition of a Leading U.S. Specialty Oilfield Chemicals Group

Fineotex Chemical Limited, through its wholly-owned subsidiary, Fineotex Biotex Healthguard FZE, has entered into definitive agreements to acquire equity interests in four U.S. based companies: FrackMex Equipment and Services LLC, CrudeChem Technology LLC, Oil Pro Advantage INC, and Lonestar Technoboost LLC. The acquisition is expected to enhance Fineotex's strategic roadmap in the Specialty Chemical Sector. The acquisition cost for CrudeChem Technology LLC is up to USD 1,10,07,360, Fineotex Biotex Healthguard FZE acquires 53.33% stake in the company. CrudeChem Technology LLC is a well-established U.S. based specialty chemical manufacturer serving the Oil and Gas industries with a portfolio of advance high performing chemical technologies. The acquisition is expected to be completed within 1 (One) Month or such date as may be mutually agreed between the Parties.