Company Watch

Camlin to set up manufacturing facility in Maharashtra

Usha Sharma - Mumbai

Camlin Fine Chemicals is setting up its new manufacturing unit for producing active pharmaceutical ingredients (APIs) at Pali, Maharashtra. The company will be investing more than Rs 10 crore. Camlin has finalised the land and it is expected that the construction work of the new facility will commence operation in another six-seven months. The full-fledge commercial activity will start by 2010. The required funds will be arranged through internal accruals and term loans.

Camlin has its one manufacturing facility at Tarapur, Maharashtra for APIs and Sucralose. The company has its therapeutic presence in miconozole, anti-fungal and cardiovascular. Recently, it has started its wholly owned subsidiary Chemolutions Chemicals, under the joint venture (JV) agreement with American company- Advace Aero Space Technology (AAT) for manufacturing AAT's products in India. Under JV, it has identified five products with respect of their customer. For ongoing research work it has its clients from Japan and Italy. The products are at different stage of completion some of them are ready for shipment which are expected shortly in the market.

Commenting on the future plans, Ashish Dandekar, Managing Director, said, "Our company got listed on capital market in 2006, but in span of two years, we didn't have good expansion plans. But now we have better expansion plans to promote our pharmaceutical business vertical. We have finalised eight acre land at Pali and early 2009, we will start construction work of the new facility and it is expected that by 2010 our facility will be ready for commercial activity."

Its three APIs for anti-fungal and cardiovascular therapeutic segment and five-six intermediates are in the pipeline. Camlin is targeting that its entire pipeline product will be available in the international market in another six-eight months.

The company has already invested nearly Rs seven crore for its existing manufacturing facility at Tarapur and has plans to invest Rs two crore more for upgradation of facility. The amount will be utilising for adding latest technical machineries at R&D and for the improvement of infrastructure of the facility. Over the year company has grown at the rate of 31 percent, during 2007-08 it has generated a total turnover of Rs 82 crore and for the current year it is targeting to touch Rs 200 crore.

u.sharma@expressindia.com