Calix (ASX:CXL) buys IER, a US supplier of Magnesion Hydroxide Liquid

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.