– Indian firms buying companies in Latin America

Well.. it seems that the Indian firms are looking seriously at the Latin American continent now…

Here Dr. Reddy’s has bought the Roche unit in Mexico:

One of India’s largest drug makers Hyderabad based Dr. Reddy’s Laboratories Ltd. today said it will acquire Roche’s active pharmaceutical ingredients business in Mexico for a total of $59 million.

It said the acquisition included all 340 employees at the site in Cuernavaca and all its business supply contracts.

This business involves the manufacture and sale of APIs including intermediates to Roche and other Innovator Companies. The product portfolio currently comprises about 18 products including mature APIs and a range of intermediates and steroids. This acquisition also adds unique steroids manufacturing capabilities to Dr. Reddy’s. The Cuernavaca site at Mexico currently employs nearly 340 people and has been inspected by the U.S. FDA and other international regulatory agencies.

Commenting on the acquisition, GV Prasad, CEO, Dr. Reddy’s Laboratories, said, “With the acquisition of Roche’s API business at the Mexico site, Dr. Reddy’s will emerge as a leading player in Custom Pharmaceutical Services (CPS) business and position itself as a partner of choice for innovator companies across the globe with service offerings spanning the entire value chain of pharmaceutical services..”

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and TCS bought this Chilean firm..

India’s biggest listed IT company Tata Consultancy Services Ltd (TCS) has acquired 100 percent stake in its Chilean partner Comicrom for $23 million.

Comicrom is a privately held company with an employee base of 1,257 and provides Business Process Outsourcing services to banks, insurance firms, pension funds, government bodies and other large corporations in Chile. The company had revenues of $35.5 million during FY-05 and an operating margin of 14 percent, TCS said.

TCS and Comicrom have a joint venture in Chile for IT services in which Comicrom holds 49 percent of the equity. As part of this transaction, TCS has also bought out Comicrom’s stake in its IT services joint venture in Chile, the company said.

TCS said this acquisition will strengthen their base in the Latin American BPO market and boosts its regional staff strength to over 2,000 and its client base to over 100.

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