Camlin Fine Sciences Limited (CFS) has disclosed that its wholly-owned subsidiary, CFS Europe S.p.A., engaged in industrial chemical production, is facing liquidation proceedings. The subsidiary has been impacted by a significant decline in global demand, rising energy costs, and the Russia-Ukraine conflict. Previously, CFS had informed exchanges about the closure of the Diphenol Plant of CFS Europe S.p.A. due to adverse macroeconomic conditions, weak demand, and low pricing in Europe. The Collegio Sindacale (Board of Statutory Auditors) of CFS Europe S.p.A. has filed an appeal with the Tribunal of Ravenna, Italy, on January 15, 2026, requesting the initiation of liquidation proceedings. The Board cited the subsidiary's lack of resources to meet overdue debts and its inability to undertake necessary strategic investments for recovery. Camlin Fine Sciences Limited was formally notified of this appeal on January 16, 2026. The company stated that it is too early to provide further details and will inform the stock exchanges of subsequent developments.
