CHENNAI: The Custom Manufactured Chemicals Division of Chemplast Sanmar Limited recently has signed a letter of intent (LOI) with a global agrochemical innovator to manufacture an advanced intermediate.

Krishna Kumar Rangachari, deputy MD, Chemplast Sanmar, said “Last quarter, we announced that we have been selected to manufacture an intermediate for an established generic Active Ingredient. Today, we are pleased to announce that we have signed a letter of intent (LOI) for this intermediate with a global agrochemical innovator company. The LOI covers a five-year period. We anticipate commercial supplies to start from 4Q of FY23-24. This new product will be manufactured in our new multi-purpose production block which is on track for commissioning in 2Q of FY23-24. This new LOI reaffirms the strength of our product pipeline, demonstrates our technical know-how, and our ability to combine a world-class research and development capability with a broad range of chemical technologies at a production scale.”