Fine Organic Industries (FOIL), Oleofine Organics Thailand Co., (OFT) and Oleofine Organics Sdn Bhd. (OFM) have executed the Joint Venture (JV) Agreement May 6, 2021. The agreement is for incorporation of a new Joint Venture Company (JVC) in Thailand for the purpose of operating business which will be mainly engaged in the business of manufacturing of Speciality Chemical products and supplying, exporting and distribution of such products.
FOIL does not have any shareholding in OFT and OFM. FOIL will be holding 45% stake in the proposed JVC, while OFT will hold 45% and OFM 10%.
Fine Organic Industries is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry.
