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Gulf Oil Corporation to start producton of Speciality Chemicals
June 30, 2003
The Economic Times, Hyderabad, July 1 2003
Hyderabad: The GULF Oil Corporation, a Hinduja group company
formed out of the merger of Gulf Oil India with the Hyderabad-based
IDL Industries, is planning to make a foray into manufacturing
speciality bulk drug intermediaries. It proposes to set up
a unit at a cost of Rs 20 crore for producing them. Addressing
the media here on Monday, Managing Director Subhas Pramanik,
said the company is diversifying into the bulk drugs area
in view of its expertise in the explosives sector. The formerly
IDL Industries is the largest manufacturer and exporter of
explosives and detonators in the country.
"Some speciality bulk drug intermediaries could be manufactured
using the explosives technology. Since we have a core strength
in the explosives, we thought of diversifying into this area.",
he said. The company hopes to set up the unit during the current
financial year.
Such bulk drug intermediaries could be used for making cosmetics
as well as a few cardiac and anti-bacterial drugs. These are
said to be good replacements for the harmful anti-biotic drugs.
Referring to the merger, the managing director said it helped
in synergising various facets of operations of the two companies
under one entity.
About Gulf Oil Corporation Limited
Gulf Oil Corporation Ltd. is a member of the global Hinduja
Group. Its IDL Division offers the world's widest range of
explosives, detonators, allied products and Contract Blasting/Mining
services. It has a presence in 21 countries. It is one of
the top two manufacturers in India and top five internationally.
Its lubricants division is the second largest in the private
sector, in the Indian Lubricants market and it offers all
kinds of lubricants, greases. brake fluids, oil filters and
coolants required by the Indian automobile market. In addition
to the above, it also offers various kinds of specialty industrial
lubricants. The other divisions have a presence in the business
of Building Products and Floriculture. The Lubes and Explosives
Divisions are ISO 9002 certified. The Lubes Division plans
to achieve ISO 4000 certification soon.
For further information please contact:
Mr S. N. Raina
General Manager (Business Planning)
GULF OIL Corporation Ltd
Hyderabad
Email: snraina@idlind.com
Tel: 040-23700737
Mr. Jimmy Bhada
GULF OIL Corporation Ltd.
Mumbai
Tel: 022-28248240 / 56989900
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