BILT Chem Renamed Solaris, Targets Rs 500-crore Sales

New Delhi, October 8: | Updated: Oct 9 2002, 05:30am hrs
BILT Chemicals, part of the Rs 1500 crore Ballarpur Industries has rechistened itself and has unveiled its new corporate identity - Solaris ChemTech Limited.

The company now plans to focus on value added specialty chemicals and bio-chemicals. Solaris ChemTech, currenlty a Rs 250 crore company, is targetting a turnover of Rs 500 crore by the year 2005. We are looking at acquisitions to ehance our capacities and capabilities and looking at certian companies in the UK. We are looking at companies with customer specific specialty chemical sythesis company with revenues in the range of 20-30 million, Solaris ChemTech managing director, Manoj Dutt said. Solaris ChemTech is a natural transition of BILT Chemicals and that it signifies energy with an ambitious growth agenda in the global chemicals domain. It is one such milestone, in the spiraling growth process, that will provide us a platform to display our prowess and focus on our core competencies, he said.

Besides bromine and bromine chemicals, the other vector of growth will be the biochemicals sector into which its entry was through acquisition of a citric acid manufacturing facility near Baroda, he added.

The capacity of this facility has been enhanced by 25 per cent to 25000 tonnes per annum through technology upgradation. The company has embarked on significant market development work in the international markets of North America, Europe and Africa and achieved a market share of over 50 per cent within six months.