This partnership will see Aether Industries become the exclusive contract manufacturing partner for for Milliken, solidifying a stable and recurring revenue stream for the Indian firm.
Aether Industries Ltd, a leading specialty chemicals manufacturer, has cemented its position in the advanced chemicals sector by signing a significant 10-year contract manufacturing agreement with Milliken Chemical and Textile (India) Co. Pvt. Ltd., a wholly-owned subsidiary of the US-based Milliken & Company.
The collaboration, announced on June 17, 2025, marks a pivotal moment for Aether Industries, leveraging its robust R&D capabilities and expanding high-spec, high-volume manufacturing facilities. The deal underscores Milliken's commitment to securing long-term supply of advanced specialty chemicals through a reliable local partner, creating a mutually beneficial arrangement for both companies.
Under the terms of the agreement, Aether's 'Site 3+' manufacturing facility in Surat, Gujarat, will be exclusively dedicated to this project for the entire 10-year duration.
This development also signifies a strategic shift in Aether Industries' business model. The project will transition from its CRAMS (Contract Research and Manufacturing Services) vertical to a full-fledged Contract Manufacturing model. This transition is expected to contribute significantly to Aether's financial stability by providing a more predictable and sustained revenue stream, moving away from the often project-based nature of CRAMS.
Aether Industries, known for its focus on producing advanced intermediates and specialty chemicals through complex and differentiated chemistry and technology core competencies, is well-positioned to meet Milliken's stringent requirements. Milliken & Company, a global manufacturing leader, boasts a diverse portfolio including polyethylene (PE) and polypropylene (PP) based specialty chemicals, floor covering, and performance and protective textiles, with a long history of innovation. The specific product involved in this exclusive manufacturing deal, while not disclosed, is evidently critical to Milliken's operations, further emphasizing the significance of this partnership for Aether.
The agreement was officially disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for shareholders and the wider market.
Overall, this 10-year exclusive contract manufacturing agreement with a global giant like Milliken is a strong testament to Aether Industries' growing capabilities and its strategic focus on long-term, high-value partnerships, promising a period of sustained growth and enhanced market presence.
