Sector News

SRF acquires DuPont’s pharma propellant business Dymel for $20M

January 4, 2015
Chemical Value Chain
DuPont will supply SRF the product from its existing facility till SRF’s facility is approved.
 
Speciality chemicals firm SRF Ltd has acquired US-based E.l. DuPont De Nemours and Company (DuPont’s) pharma propellant business including the brand Dymel for $20 million (Rs 128 crore) in cash, as per a stock market disclosure.
 
Dymel provides a non-ozone depleting alternative propellant for use in the pharma industry. This business is part of the performance chemicals segment which DuPont anticipates separating by mid-2015.
 
Post acquisition, SRF will own DuPont’s ‘Dymel’ brand and receive the technology and know-how for setting up its own ‘current good manufacturing practices’ (cGMP) facility for manufacturing HFC 134a Pharma grade.
 
DuPont will supply SRF the product from its existing facility till SRF’s facility is approved.
 
“This acquisition is in sync with our long term strategy to move up the value chain and will enable us to enter the niche pharma product segment. The growth in the Metered Dose Inhalers (MDI) sector is expected to be reasonably robust in the years to come and with India playing a major role in this sector we are ideally positioned to take benefit of this opportunity. This will also offer great synergy with our existing HFC plants going forward,” said Ashish Bharat Ram, managing director of SRF.
 
“DuPont is making this move to enable a stronger focus on developing and commercializing the company’s new family of products. We believe this business is an excellent fit for SRF, which already supplies to the pharmaceutical industry,” said Kathryn K. McCord, global business director, DuPont Fluorochemicals.
 
Dymel also has applications in consumer and other industries. That line of the product is not part of this transaction.
 
Established in 1970, SRF is the one of the only Indian manufacturers of the grade of hydro fluoro carbon HFC 134a. For SRF, this transaction provides immediate access to DuPont’s technology, brand and customers, thus enabling an instant entry into the niche pharmaceutical segment at a global level.
 
SRF is engaged in the manufacture of chemical based industrial intermediates. Its business portfolio covers technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics. It has two plants for manufacture of technical grade of HFC 134a.
 
By Bhawna Gupta
 
Source: VC Circle

comments closed

Related News

October 10, 2021

Sika Demonstrates Proof of Concept of Concrete Recycling – Strategic Targets for 2023 Confirmed at Capital Markets Day in Zurich

Chemical Value Chain

At the Sika Capital Markets Day 2021 being held in Zurich, CEO Thomas Hasler confirms the strategic targets 2023. Under the motto: “Sika as Enabler for a Sustainable Construction Industry”, members of Group Management and Sika experts demonstrate the groundbreaking Sika concrete recycling process at a test facility in Zurich.

October 10, 2021

AR Packaging launches high-barrier fiber-based tray for chilled food recyclability

Chemical Value Chain

Sweden-based AR Packaging is releasing a recyclable fiber-based tray for high-barrier applications called TrayLite. The solution provides an alternative to full plastic barrier trays, reducing plastic content by 85%, for the modified atmosphere packaging of ready meals and other chilled foods.

October 10, 2021

Neste to sell base oils business to Chevron

Chemical Value Chain

The agreement covers a combination of share and asset deals forming Neste’s entire global base oils business. As part of the divestment, the parties have also agreed on a long-term offtake for Neste’s base oils supply from Porvoo, Finland.

Send this to a friend