IOL Chemicals and Pharmaceuticals Limited (IOLCP), one of the largest producers of organic chemicals and bulk drugs in India, has been awarded the most prestigious Punjab State Safety Award 2008 (First Prize in Chemical Sector) for Largest Reduction in Frequency Rate of Accident in Chemical Industry, for more than five lac man hour’s group.
Directorate of Factories, Punjab, has instituted the Awards in the state to encourage the managements of factories. Punjab state has registered about 16,000 factories employing about 5.5 lacs workers. The Award is given to the managements who do commendable job in promoting safety performance in their factories. Safety performance of the competing organizations / installations is evaluated with the help of a new criteria developed at OISD which takes into consideration, the total loss concept i.e. fatalities, fires, lost time, direct & indirect losses etc. and also the hazard potentials. For the year 2008, IOLCP has been recognized for its efforts in this field.
“We are extremely proud to have received this prestigious award. It is the recognition of our sustained efforts and commitment towards improving safety conditions of our workers, supervisors and managers working in our factories. We care for our employees and the environment as they are the most valuable resource that we have.” said Mr. R K Thukral, Executive Director, IOLCP.
About IOL Chemicals and Pharmaceuticals Limited
Established in 1986, IOLCP, a public-listed company (BSE), is one of the largest manufacturers of industrial chemicals and bulk drugs with presence in over 40 countries across the world. IOLCP manufactures and supplies Industrial Chemicals and Bulk Drugs for use in various pharmaceutical applications. Its product portfolio includes industrial chemicals, industrial organic chemicals such as acetic acid, glacial acetic acid, ethyl acetate, acetic anhydride and bulk drugs like ibuprofen.
The turnover of IOLCP in the year 2007-2008 was Rs.361.35 crore and the company is currently in a phase of expansion with an investment outlay of Rs.216 crore which would include capacity expansion for its various product lines, forward and backward integration and increase in cogeneration of power.
IOLCP's overseas customers are spread out across several countries including Bangladesh, Thailand, UAE, Syria, Singapore, Hong Kong, Pakistan, Egypt and many others. The company has strong business relationships with a number of prestigious clients such as Ranbaxy Labs, Dr Reddy, DS Group, CIPLA, Uflex Industries, ITC Limited, ICI Paints, Asian Paints, Pidilite, Rallis India, Hindustan Polymide, Gujarat Super Phosphate, and Avon Organics Ltd. etc. For more information on IOLCP, please visit http://www.iolcp.com