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Aether Industries Inks LoI with US-based Oilfield Services Company

Specialty chemicals manufacturer Aether Industries has signed a letter of intent (LoI) with a US-based global oilfield services company, as a supplier and contract manufacturing partner. The LoI will clear the way for the execution of a strategic supply agreement (SSA) between the two companies within three months.

 

In this partnership, Aether will manufacture four strategic products, and the individual volume of the four products comes to 1,325 MT per month. All of these products will be manufactured for the first time by Aether. While the output will be used significantly for domestic oil and gas applications, a portion will also be supplied to the customer's global oil and gas locations.

 

Aether expects to clock a topline of over Rs 300 crore per year, based on the volume and revenue likely to flow in within one year of the SSA's execution.

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