This specialty chemicals company signs a license agreement with Saudi Aramco Technologies!

Shares of the company gained more than 12 per cent in the last six months.

Aether Industries Limited signed a license agreement with Saudi Aramco Technologies company for the commercialization of the sustainable Converge polyols technology. The agreement initiates the manufacturing and commercialization of the converge polyols technology and product series, the manufacturing process for which has been previously jointly developed and validated at a pre-commercial scale by Aramco and Aether. The agreement also captures the next set of important milestones.

Recently, the company also signed a letter of intent with one of the top 3 leading global oil field services companies based in the USA towards the finalization of a strategic supplier and contract manufacturing partnership. The agreement also paves the way for the execution of a strategic supply agreement (SSA) between the two companies within 3 months of the letter of intent execution. The letter of intent also specifies 4 strategic products of the new customer that will be contract manufactured by Aether as the first set of products in this new partnership.

Aether Industries is a specialty chemical manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.

On Monday, the stock opened at Rs 1001.05, with a high and low of Rs 1014.45 and Rs 984.15. Currently, the stock is trading at Rs 992.55, down by 1.64 per cent over its previous close of Rs 1009.10.