Sterling Biotech buys Chinese gelatin co
Sterling Biotech buys Chinese gelatin co
Sterling Biotech, the largest manufacturer of gelatin in Asia, acquired a Chinese company as part of its effort to increase its global reach, reports Business Line. `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, (Q, N,C,F)* said. He said that the company was located near Beijing. Sterling acquired the Chinese company in 2006, Sandesara, who is part of the Gujarat government delegation to the WEF led by the CM Narendra Modi, said. > Sterling has invested millions of Dollars in China venture and it currently holds 9% of the global market for gelatin. The company has manufacturing plants in Gujarat and Tamil Nadu. The United States is the largest market for the company. Gelatin is a pure protein obtained from animal bone and is a source of high quality protein. The primary use of pharmaceutical grade gelatin is to manufacture hard and soft capsules in the pharmaceutical industry. Gelatin is also used in several other medical applications like for treating arthritis and cartilage related problems. It is also used for bleeding disorder management and in tablets and vitamins. Shares of the company closed down& nbsp;Rs 0.65, or 0.41%, at Rs 157. The total volume of shares traded was 362,991 at the BSE.(Friday)
