core sector communique

IOL Chemicals and Pharmaceuticals felicitated by PEDA for Energy Conservation initiatives

 

New Delhi, December 17, 2009 – IOL Chemicals and Pharmaceuticals Limited (IOLCP), one of the largest producers of APIs, Ibuprofen and specialty chemicals in India, has announced that the company has been awarded the 2^nd prize State Level Energy Conservation Award under the category of energy intensive industries organized by Punjab Energy Development Agency (PEDA). IOLCP won this award for its ongoing efforts made in the field of Energy Conservation . Mr. Damandeep Singh, President, IOLCP received this award from Dr. Farooq Abdullah, Hon'ble Union Minister of New and Renewable Energy, Government of India in the august presence of Mr. Sukhbir Singh Badal, Hon'ble Deputy Chief Minister of Punjab and Mr Bhupinder Singh Hooda, Hon'ble Chief Minister , Haryana  at a special felicitation ceremony held on December 16, 2009 at  Chandigarh.

 

IOLCP has also recently bagged two most prestigious National Energy Conservation Awards for both its divisions, the National Energy Conservation Award 2009, second prize in Drugs & Pharmaceuticals Sector and a Certificate of Merit in Chemical Sector from the Ministry of Power, Government of India. IOLCP holds the rare distinction to have won the National Energy Conservation Award in the Chemicals Sector consecutively for the fifth year. IOLCP won the second prize of National Energy Conservation Award in the years 2005, 2006, 2007 & 2008 and a Certificate of Merit of National Energy Conservation in 2009 as well.  

 

IOLCP’s efforts in energy conservation have been commendable this year considering that it has also commenced the operations at its new manufacturing plant of Isobutyl Benzene (IBB) having annual capacity of 6600MT. The new IBB plant is the second largest in India in terms of manufacturing capacity and makes the company more self reliable in terms of ready availability of raw materials for its most successful pharmaceutical product, Ibuprofen.  

 

 “Considering the growing concern towards climate change across the world, it is the duty of every corporate citizen to contribute towards the cause. We understand our role towards the achievement of this goal and have achieved steady decline in energy consumption at our manufacturing units due to implementation of a number of energy conservation measures and ideas to increase the power-efficiency of our equipment,” said Mr. Damandeep Singh, President, IOLCP. “We are extremely proud to have received this prestigious award as it is the recognition of our sustained efforts and commitment towards further improving our performance and achieving higher standards in this crucial area of operations.”

 

Apart from the energy conservation initiatives at IOLCP, the company is also actively involved in protection and preservation of the environment in and around its manufacturing units. The company’s environmental policy includes sustained efforts towards minimizing adverse environmental impact by controlling emission, effluents and waste generation at its manufacturing units in order to prevent pollution and reduce its carbon footprint.  

 

The company also emphasizes on optimum utilization of resources through model business practices that include diligent recovery of solvents, improvement in the yields, energy and water. The company also invests regularly in continuously upgrading its Environment Management System (EMS) and its operating standards to comply with applicable legalization and regulations. 

 

About IOL Chemicals and Pharmaceuticals Limited

Established in 1986, IOLCP, a public-listed company (BSE), is one of the largest manufacturers of APIs and specialty chemicals with presence in over 52 countries across the world. IOLCP manufactures and supplies APIs and specialty chemicals for use in various pharmaceutical, Textile, Packaging, Lamination, Pesticides, Food processing applications. IOLCP’s product portfolio includes APIs, Ibuprofen, specialty chemicals such as ethyl acetate, acetic anhydride, Iso Butyl Benzene, Mono Chloro Acetic Acid and Acetyl Chloride and bulk chemicals such as Glacial Acetic acid.  IOLCP is currently in a phase of expansion with an investment outlay of Rs. 256 crore which would include capacity expansion for its various product lines, forward and backward integration and increase in cogeneration of power.  IOLCP's overseas customers are spread out across several countries including Argentina, Brazil, China, Denmark, Germany, Singapore, Hong Kong, Kenya, Malaysia, Peru, Egypt and many others. The company has strong business relationships with a number of prestigious clients such as Ranbaxy Labs, Aurbindo Parma, Dr Reddy, DS Group, CIPLA, Uflex Industries, ITC Limited, ICI Paints, Asian Paints, Pidilite, Rallis India, Hindustan Polymide, Gujarat Super Phosphate, Avon Organics Ltd. etc.