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TANFAC Industries Ltd. — Capital/Financing Update 2024
Jun 19, 2024
61879_rns_2024-06-19_2b17bb64-63d2-4a97-83c6-29f5c0dee5f0.pdf
Capital/Financing Update
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Tanfac Industries Limited Signs Framework Agreement with Japanese Specialty Chemical worth ~$81 Mn (~₹675 crores)
Cuddalore, June 19, 2024: Tanfac Industries Limited (BSE: TANFCIND), one of India’s leading Specialty fluoride chemical manufacturers, has signed Framework agreement worth revenue of ~$81 Mn (₹675 crores) over next 5 years with one of the leading Japanese Specialty Chemical companies to supply a refrigerant gas. The supply for this product will start from H2 FY2025-26.
Speaking about the Framework agreement , K. Sendhil Naathan, Managing Director of Tanfac Industries Ltd , said "We are pleased to announce the signing of Framework agreement with one of the prominent Japanese players in Speciality chemicals. With this agreement, TANFAC strategically enters into the refrigerant gas segment. We continue to capture the growth and value in fluorination chemistry and enhance our product offerings.
We will undergo a plant expansion at our Cuddalore facility to manufacture this product. This expansion, coupled with the signing of the agreement, we continue to get visibility over the significant growth in coming years."
About Tanfac Industries Limited. (TANFAC):
Tanfac Industries Limited is a prominent chemical manufacturing company based in India, specializing in the production of high-quality specialty fluoride chemicals. Founded in 1972, TANFAC is a joint venture between Anupam Rasayan India Limited and Tamil Nadu Industrial Development Corporation (TIDCO). The company commenced commercial production in March 1985 and has since established itself as a leading producer in its field. The manufacturing facilities are strategically located in the SIPCOT Industrial Estate, Cuddalore, Tamil Nadu, covering an expansive area of 60 acres. The location provides logistical advantages for both domestic and international distribution.
Ravichan Digitally signed by Ravichandran N R dran N R Date: 2024.06.19 21:18:46 +05'30'
For further details please get in touch with:
Mr. N R Ravichandran Chief Financial Officer Email: [email protected]
TANFAC INDUSTRIES LIMITED
(Joint Sector Company with TIDCO)
Regd. Office & Factory: No. 14, Sipcot Industrial Complex, Cuddalore- 607 005, Tel: 91-4142-239001-5; Fax :91-4142-239008 GST: 33AAACT2591A1ZU | CIN: L24117TN1972PLC006271