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.
 
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Source: Finance News Network