By: ICN Bureau
Last updated : October 31, 2023 11:09 am
This is the third LOI the company has signed over the past 12 months
The Custom Manufactured Chemicals Division of Chemplast Sanmar Limited has signed a Letter of Intent (LOI) with a global agrochemical innovator to manufacture a new pipeline Active Ingredient (AI).
The LOI covers a period of 5 years. Commercial supplies are expected to start from CY 2025. This new product will be manufactured in our recently commissioned production block.
Commenting on this, Dr Krishna Kumar Rangachari, Deputy Managing Director, Chemplast Sanmar Limited, stated that “Last quarter, we announced that we have been selected to manufacture an AI. This is an important milestone for the company since this is the first time, we will be involved in the manufacture of an AI. Today, we are pleased to announce that we have signed an LOI for the supply of the AI. This is the third LOI we have signed over the past 12 months. This development reiterates our customers’ confidence in our ability to integrate a world-class research and development capability with a broad range of chemical technologies at production scale.”
The Custom Manufactured Chemicals Division manufactures advanced intermediates for agrochemical, pharmaceutical, and fine chemical innovators.
Led by a qualified team of chemists and engineers, the division has invested in state-of-the-art production blocks, Pilot and R&D facilities to handle a wide range of chemistries and processes.