Anupam Rasayan signs Letter of Intent worth $46 Million with the Leading American Multinational
Surat, April 26, 2023: Anupam Rasayan (NSE, BSE: ANURAS), one of India’s leading 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. This product will be manufactured in our 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.”