On Tuesday, Fineotex Chemical Ltd. received a specialist performance chemical order from a major FMCG manufacturer. The order is estimated to be worth Rs 1,500 million. The Company will use its Ambernath facility for production to supply the order.
The order was ascribed to the company’s focus on contract execution and efforts to create long-term worldwide client relationships.
It anticipates the new order to open up new opportunities for collaboration in the global FMCG sector for the delivery of cleaning and hygiene goods.
Fineotex has also increased capacity at its Ambernath facility by 21,000 tonnes, bringing overall capacity to 1.04 lakh tonnes per year. The expansion will also enable the company in meeting future prospective demands.
The plant is designed with cutting-edge infrastructure upgrades and modern amenities that are required to produce chemicals in a sustainable manner.
To drive future growth potential, the company wants to focus on FMCG and specialist segments.
Commenting on this announcement, Sanjay Tibrewala, Executive Director of Fineotex Chemical Limited, said, “The Ambernath plant has allowed us to expand our manufacturing capabilities and meet the growing needs of the specialty chemical market. The facility is equipped with the latest new generation infrastructure with modern amenities which are essential to produce chemicals in a sustainable way with advanced automation, storing capacity and logistical handling. This recent expansion reflects our focus on operational excellence, technically advanced manufacturing capabilities and is fully aligned with Fineotex’s overall growth. Furthermore, this specialty product order is a demonstration of the Company’s success in strengthening its international market presence and seizing opportunities in high growth segments. We are confident that our long-term strategies will create value for all our stakeholders and pave the way for exciting times ahead.”