Aimco Pesticides wins contract manufacturing deal from agrochemical major
Aimco Pesticides has bagged a three-year contract manufacturing agreement for one of its existing products with an undisclosed Indian agrochemical major.
According to the Mumbai-based agrochemicals company, the contract calls for the supply of its existing technical product to the customer for three years, starting from April 2021.
Aimco Pesticides anticipates production to stabilize fully by June 2021, during which production will be increased to the desired range.
The agrochemicals company expects to earn nearly INR2.25-2.5 billion during the tenure of the contract. It has incurred a capital outlay of INR5 crores and an additional investment of INR10 crores in plant and machinery, utility and safety, debottlenecking, effluent treatment facility, and warehousing.
Pradeep Dave – Founder and Executive Director of Aimco Pesticides said: “This contract marks a major milestone in Aimco’s legacy. We have spend the last few years in changing the direction of our company, whether it is about making long-term decisions, investments for future, or our focus towards achieving consistent financial performance.
“This contract is an important milestone in our strategy aiming at stability of production, revenues and profitability. Moreover, this association has the potential to create a ripple effect and open up possibilities of many more future collaborations for the Company.”