Calix (ASX:CXL) buys IER, a US supplier of Magnesion Hydroxide Liquid
Calix (ASX:CXL) has acquired Inland Environmental Resources Inc., a US supplier of Magnesium Hydroxide Liquid (MHL).
It’s for the treatment of wastewater in food processing, industrial and municipal markets.
The acquisition follows the successful completion of a $12 million institutional placement to fund this strategic acquisition announced back in September.
Inland Environmental Resources Inc. is a well-established customer-centric business with a proven history of successful MHL sales into US wastewater treatment markets, particularly in the Pacific North West and Mid-West.
It has annual reported revenues of $13.4 million spread across 80+ customers.
Shares in Calix (ASX:CXL) are trading flat at 77 cents.
Copyright 2019 – Finance News Network
Source: Finance News Network
