Aether Manufacturing Facility II Resumes Operations in Gujarat

Shares of Aether Industries increased by over 3% on Thursday, May 23, following the company’s announcement regarding the commencement of operations at its Manufacturing Facility II. 

This development comes after the Gujarat Pollution Control Board (GPCB) revoked the closure order on November 29, 2023, due to a fire accident at the facility.

Regulatory Approval and Operational Capacity of Aether:

The GPCB’s approval for resuming operations at the facility allows Aether Industries to operate at 75% capacity. This approval signifies compliance with the necessary regulatory requirements, enabling the company to recommence its manufacturing activities.

In November 2023, a fire at Aether Industries’ manufacturing site in Surat, Gujarat, injured approximately 25 individuals. Fortunately, no casualties were reported. The incident led to a brief closure of the facility, which has now been lifted following regulatory clearance.

Industries Overview:

Aether Industries, based in Surat, is a prominent producer of advanced intermediates and specialty chemicals. The company’s expertise lies in complex and differentiated chemistry and technology core competencies. 

Its products serve various industries, including pharmaceuticals, agrochemicals, material science, coatings, high-performance photography, additives, and oil and gas segments.

Following the announcement, the Industries’ shares were trading at ₹837.95 apiece, reflecting a gain of over 3% as of 11:30 am. The market’s positive response indicates investor confidence in the company’s ability to resume operations and maintain its position in the specialty chemicals sector.

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