Chemplast Sanmar's CMCD Inks LoI with Global Agrochemical Company.

Chemplast Sanmar Ltd. (CSL) has disclosed that its Custom Manufactured Chemicals Division (CMCD) recently entered into a significant agreement by signing a Letter of Intent (LOI) with an undisclosed global leader in agrochemical innovations. The purpose of this collaboration is to manufacture a new active ingredient (AI) for their pipeline.

The LOI encompasses a commitment spanning five years, with the commencement of commercial supplies anticipated to begin in the calendar year 2025. The production of this novel product is set to take place within the company's recently commissioned production block, as stated in an official release.

Notably, in the previous quarter, CSL announced its selection as the manufacturer of an AI, marking a notable entry into this particular sector. Krishna Kumar Rangachari, Deputy Managing Director of Chemplast Sanmar Ltd, expressed his satisfaction, saying, "Today, we are pleased to announce that we have signed an LOI for the supply of the AI. This is the third LOI we have signed over the past 12 months." This development underscores CSL's growing role in the agrochemical industry as a trusted partner in the production of essential agricultural solutions.

HBL