Jubilant Ingrevia commissions new facility for Diketenes and Derivatives; Stock gains ~2%

17 Feb 2022 , 09:52 AM

Jubilant Ingrevia Limited, a global integrated Life Science products, and Innovative Solutions provider with over 42 years of experience offering over 165 products & innovative solutions using more than 35 key chemistry and technology platforms across its three portfolios of businesses viz Acetyls, Pyridines and Vitamins & Premixes, on Wednesday, announced the commissioning of its new Diketene derivatives facility at its manufacturing site in North India at Gajraula, Uttar Pradesh.

The company said in a regulatory filing that Jubilant Ingrevia Limited for many years has niche expertise in using Ketene chemistry technology. Using the Ketene chemistry capability, the Company has developed a range of Diketene Derivatives.

The newly commissioned facility marks the entry of Jubilant Ingrevia Limited into the fast growing Diketene business portfolio. This reiterates Jubilant Ingrevia Limited’s commitment towards growth through its integrated business model, by providing value added products & innovative solutions to its customers.

The commissioned facility has about 7,000 TPA capacity to produce various Esters (Mono Methyl Acetoacetamide, Methyl Acetoacetate, Ethyl Acetoacetate and Ter-Butyl Acetoacetate).

The Company’s long-standing association with leading customers in Pharmaceuticals, Agrochemicals and other industries and its advance efforts to get product approval from customers, will help in utilizing a major portion of the capacity of this new facility in the coming months. Jubilant Ingrevia Limited undertakes to commission future phases of Diketene Derivatives as per plan.

At around 9.55 am, Jubilant Ingrevia Ltd was trading at Rs538.80 per piece up Rs9.65 or 1.82% on the BSE.

Rajesh Srivastava, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited said, “It gives me immense pleasure to showcase yet another instance where Jubilant Ingrevia Limited has developed a strong chemistry platform proposition using inhouse R&D and technology transfer backed with high operating excellence and clear strategic direction. The commercial launch of the Diketene facility marks the next stage in the growth of the Company, positioning us closer to our client’s requirements of innovative products and solutions using novel and niche chemistry platform.”