Aether Industries has entered into a pact with Saudi Aramco Technologies Company to manufacture and commercialise the converge polyols technology and product line. Aether Industries has inked a letter of intent (LoI) with Saudi Aramco Technologies to this effect, according to a statement.
The brokerage believes this engagement will lead to building up the required infrastructure by Aether, engagements with its customers, getting approvals and commercial production of the product in the subsequent years.
Source:- Good returns
With the addition of this contract with Saudi Aramco, Aether will increase its wallet share with the company. HDFC Securities said that Aether has the capabilities and expertise to retain its existing clients, increase their wallet share, and at the same time, bag new customers. With the tripling of its R&D infrastructure and capacity addition, Aether is well-positioned to get into many more such contracts.
Saudi Aramco Technologies and Aether had previously developed and validated this manufacturing process on a pre-commercial scale, Aether Industries aims to generate revenue of u20b9150-200 crore from this agreement.
Source: Equitymaster
During the last few years, Aether has been working with Aramco on the CRAMS (Contract Research and Manufacturing Services) business model. Aether will take the same products from the CRAMS business model and commercialize and manufacture them under the Exclusive or Contract Manufacturing business model, the company added.
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