Aether Industries enters agreement with Polaroid for research and manufacturing

22 Nov 2022 , 02:14 PM

Aether Industries Limited, one of India’s fastest-growing specialty chemicals companies, has signed a long-term Master Supply Agreement (MSA) with Europe-based Polaroid. Polaroid is the parent company of the global Polaroid group of companies, best known for its instant photography products.

The MSA covers R&D and manufacturing services for Polaroid Film (instant photography chemistry) and Polaroid Sciences (new chemistry in fields such as sustainability and medical use). As a result, the MSA lays the groundwork for the establishment of four distinct and specific research and supply agreements between the two companies.

Based on historical data from the two companies’ existing supply agreement, the MSA anticipates an overall revenue of USD $ 15 million (approximately Rs121.50 crore) over the partnership period of at least three years. Revenues from the resulting research and supply agreements with the Polaroid Sciences division have not yet been included but will be added to the aforementioned.

The MSA was signed on November 22, 2022, in Surat, India (Aether HQ) in the presence of a high-level Polaroid delegation.

At around 2.17 PM, Aether Industries was trading at Rs920.55, marginally down against previous close of Rs921.20 on NSE. The counter hit intraday high and low of Rs949 and Rs916.30 respectively.

For feedback and suggestions, write to us at [e-mail]