July 14, 2011 / 20:09 IST
Chemical maker Fineotex Chemicals today said it has incorporated a wholly-owned subsidiary in Malaysia to carry on its business in that region.
The company is also in advance stages of negotiations with foreign parties for investing in business in and around Malaysia.
"The company has incorporated a wholly-owned subsidiary in Malaysia to carry on the business in that region. It is in advance stages of negotiations with foreign parties for investing in business in and around Malaysia," it said in a filing to the Bombay Stock Exchange (BSE).
Fineotex manufactures speciality chemicals among others for textile, garment, construction, leather, water treatment, paint industries.
It currently has its manufacturing facilities in Navi Mumbai.
Shares of the company today closed at Rs 283.15, down by 3.25% from previous close on the BSE.
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