Ami Organics Limited, a global manufacturer of advance pharmaceutical intermediates and speciality chemicals, announced that board has approved acquisition of 55% partnership interest in Baba Fine Chemicals, a fine speciality chemicals company focused on custom synthesis and manufacturing of intermediates. This acquisition heralds AMI Organics’ foray into the high entry barrier semiconductor industry.
The acquisition is in line with AMI Organics’ strategy of expanding its speciality chemicals division to focus on niche products manufactured using advanced technology with low competition and high entry barriers. AMI Organics has already developed two electrolyte additives used as Solid Electrolyte Interface in Lithium-Ion-Batteries which are awaiting commercial orders from its customers. This agreement gives AMI access to the complementing products of Baba Fine Chemicals that are also focused on the electronic industry, mainly semiconductors, the statement said.
Commenting on development, Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said: “We are delighted to partner with Baba Fine Chemicals, a name to reckon with in the highly complex semiconductor industry. This partnership provides us with the impetus to make a mark in the lucrative and high entry barrier semiconductor industry. Our synergies will help scale up BFC’s niche product basket given that they are the only manufacturers in the country in their product category. With an exciting R&D pipeline, we are thrilled to work with the BFC team to scale-up their products at a higher volume. The acquisition is in line with our focus of expanding our presence in complex speciality chemicals industry and will complement our product basket of electronic chemicals.”
Commenting on development, Rakesh Gupta, Partner, Baba Fine Chemicals, said: “AM/ Organics has a strong track record of developing products using advance technologies in higher volumes which makes them a perfect match for us. | believe our R&D strengths and AMI’s operational excellence will help us grow manifold in the coming years.”
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