Anupam Rasayan signs letter of intent worth ₹380 crore with a leading American MNC

Anupam Rasayan, a custom synthesis & speciality chemical players, has signed a Letter of Intent worth revenue of $46 Mn (₹380 crores) with one of the leading American multinational company to supply new age specialty chemical advance intermediate for the next 5 years, the company announced through an exchange filing. This product will be manufactured in their upcoming multipurpose manufacturing facilities.

Speaking about the contract, Anand Desai, Managing Director of Anupam Rasayan, said, ″We are delighted to announce that we have established a new relationship with an American MNC customer by signing a long-term LOI to supply a niche fluorinated molecule on exclusive basis. This molecule is an advanced intermediate to be used as a key building block for manufacturing high-end engineering fluids and also in active pharmaceutical ingredient, this product development further demonstrates our prowess in developing and manufacturing complex fluorinated products.

"This is a major step towards expanding our geographic presence in the US. With this LOI, we expect our share of revenues from the US to increase significantly in the coming years. Additionally, this reflects the confidence shown by these MNCs in our technical capabilities and in being able to execute a strong supply chain mechanism. This product is being manufactured for the first time in India and aligns well with the Government of India’s Make in India campaign,″ he added.

Incorporated in 1984, the specialty chemicals major has two verticals: life science-related specialty chemicals comprising products related to agrochemicals, personal care, and pharmaceuticals; other specialty chemicals comprising specialty pigments and dyes; and polymer additives.

It is currently manufacturing products for over 71 domestic and international customers, including 27 multinational companies. The company has six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat, and two located at Jhaghadia, Bharuch, with an aggregate installed capacity of about 27,000 tonnes as of Dec. 31 2022.