Aether Industries has acquired and taken possession of New Industrial premises, located at GIDC Industrial Estate, Sachin, Surat, Gujarat. The site is adjacent to the recently commercialized Greenfield Manufacturing Site - 3. The said site will be termed as Manufacturing Site - 3+, as the company will merge the same with Manufacturing Site - 3 for various regulatory approvals. Trial runs for Site - 3 have commenced and commercial production timeline which has been stated for month end will not be affected. The total cost for Site - 3+ will be Rs 60 crore to Rs 70 crore and this will be funded by internal accruals and funding from banks.
The company will manufacture 3 new products (specialty chemicals and intermediates), at this Manufacturing Site - 3+. These three products are developed in company’s in-house R&D Centre. These products will be manufactured for the first time in India, like most of its products.
Aether Industries is a specialty chemicals manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.
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