Punjab Chemicals + KLG Systel Acquisition

Punjab Chemicals & Crop Protection’s wholly owned SD Agchem (Europe) NV entered into a share purchase agreement with Pevobel N.V. and Gevobel N.V. to acquire 100% equity shares in Pegevo Bcheer BV (Pegevo), a company incorporated under the laws of The Netherlands. The transaction is based on an enterprise value of about euro 39.5 million for Pegevo. The company made this announcement before market hours on Monday, 27 August 2007.

Pegevo undertakes substance formulation for crop protection. Its product range includes herbicides, insecticides and fungicides. Pegevo’s products are registered in The Netherlands, Belgium, UK, France, Germany, Ireland, Denmark, Italy, Slovakia, Czech Republic, Belarus and Switzerland.

KLG Systel announced that the company has acquired a 51% stake in Atlantis Lab, a dedicated engineering solutions company. With this acquisition, Atlantis has now become a subsidiary of KLG Systel.

Incorporated in 2001, Chennai based Atlantis Lab is one of the fastest growing engineering services companies providing mechanical design solutions to worldwide manufacturers such as General Electric, Whirlpool, Atlas Copco, Tata Motors, John Deere, Schneider Electric and Cummins, to name a few.