Aether Industries Inks Major Supply Deal with Baker Hughes

Aether Industries Limited has inked a Strategic Supply Agreement (SSA) with Baker Hughes. This agreement spans an initial term of five years with provisions for extension by three additional one-year terms and subsequent yearly renewals. The essence of the SSA involves Aether Industries undertaking contract manufacturing of six distinct products for Baker Hughes. Notably, this marks the first instance of manufacturing these products in India, aimed at global distribution with a strong emphasis on serving the local oil and gas sectors. This move aligns closely with India's "Make in India" initiative, enhancing domestic manufacturing capabilities while meeting critical industry needs.

In compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Aether Industries Limited (Aether Industries) hereby announces the execution of a Strategic Supply Agreement (SSA) with Baker Hughes. Signed on 25 June 2024 in the USA, the SSA came into effect on the same day with an initial duration of 5 years. It includes provisions for extension by three additional one-year terms, followed by subsequent annual extensions. This strategic agreement underscores Aether Industries’ commitment to enhancing its role as a pivotal partner in contract manufacturing for Baker Hughes, marking a significant milestone in their collaborative business relationship.

Aether Industries’ wholly-owned subsidiary, Aether Speciality Chemicals Limited, will play a pivotal role in executing the manufacturing operations stipulated under the SSA. The subsidiary has proactively outfitted its facilities with requisite assets, plants, and machinery, ensuring readiness to commence production in accordance with the agreement’s specifications.

This collaboration underscores Aether Industries’ strategic positioning as a vital partner for Baker Hughes in the realm of contract manufacturing. It not only signifies a significant step towards deepening the business relationship between the two entities but also lays a robust foundation for sustained growth and mutual benefit.

Furthermore, the SSA highlights Aether Industries’ competencies in delivering high-quality production and effective global supply chain management. This strategic alignment with Baker Hughes reflects Aether Industries’ commitment to expanding its manufacturing capabilities and enhancing its market presence, particularly within critical sectors such as oil and gas, thereby displaying its role as a prominent player on the global level.

Aether Industries Limited, located in Surat, Gujarat, is renowned for its expertise in producing advanced intermediates and specialty chemicals that involve sophisticated chemistry and cutting-edge technological capabilities. Their products serve a wide spectrum of industries, including pharmaceuticals, agrochemicals, material science, coatings, high-performance photography, additives, and the oil and gas sector. With a commitment to innovation and quality, they continually strive to meet the evolving needs of their global clientele by delivering solutions that enhance performance, sustainability, and efficiency across various applications in the chemical industry.