Commences production of Ibuprofen’s raw material at its new plants; Becomes the second largest manufacturer of Mono-chloro Acetic Acid (MCA) and Acetyl Chloride in India.
IOL Chemicals and Pharmaceuticals Limited (IOLCP), one of the largest producers of Bulk chemicals, intermediate spatiality chemicals and APIs in India, has announced that it has commenced the manufacturing operations of Mono-chloro Acetic Acid (MCA) and Acetyl Chloride at its new manufacturing units with capacities of 7200 TPA and 5200 TPA respectively, making it the second largest producer of these chemicals in the country. Both of these chemicals will be used by the company as raw materials for its most popular pharmaceutical product, Ibuprofen.
This development has made IOLCP the only Ibuprofen manufacturer in India to have its own captive raw material production unit. Additionally, the enhanced production capacity of Ibuprofen from 3600 TPA to 6000 TPA will make IOLCP the largest producer of the bulk drug (Ibuprofen) in India by the end of this year. IOLCP is also installing another captive co-generation plant of 4 MW, which will take its cogeneration capacity to 17MW to meet the increased energy demand of its production units. The whole project is expected to be completed by the end of December, 2009.
According to Mr. R K Thukral, Executive Director, IOL Chemicals and Pharmaceuticals Limited, “We are extremely proud to announce that IOLCP is now virtually self reliant in terms of Ibuprofen manufacturing. We have our own raw material and will soon have our own power generation facility to support the new plant. As such, we will not need to depend upon suppliers for the raw material and will also not be virtually free from the vagaries of the market and price trends. Moreover it will facilitate the company to be more cost effective in the production of Ibuprofen.”
IOLCP already exports its various products to many countries across the world including Argentina, Brazil, China, Denmark, Germany, Singapore, Hong Kong, Kenya, Malaysia, Peru, Egypt etc.
IOLCP was also recently accorded the coveted status of Star Export House in accordance with the provisions of the Foreign Trade Policy, 2004-2009 by the Ministry of Commerce and Industry, Department of Commerce, Government of India, which makes the company eligible for many privileges that will help enhance its business and exports revenues.
As part of its Backward Integration plan, IOLCP is going to commence a new plant of Isobutyl Benzene (IBB) having annual capacity of 6000 MT to ensure ready availability of the most important raw material of Ibuprofen. The commercial production in this plant is expected to commence within a couple of months.
IOLCP also plans to increase the production capacity of Acetic Acid from 50000 TPA to 75000 TPA, Ethyl Acetate from 33000 TPA to 36000 TPA and that of Acetic Anhydride from 12000 TPA to 18000 TPA.
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.256 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
