SRF Limited Expands its Refrigerants Portfolio to Service the AC Industry by Acquiring the R 125 Assets of a Global Major

SRF Limited, a chemical based multi-business entity and a leading manufacturer of refrigerants in India, announced that it has reached a definitive agreement to acquire the HFC-125 assets from a global leader in the development, manufacture and supply of fluoroproducts. Under the agreement, SRF will own the HFC-125 assets and the technical know-how on an exclusive basis. The Company plans to relocate the assets to India and set up the facility for manufacturing HFC-125 at its Chemical Complex in Dahej, Gujarat. SRF is the only Indian manufacturer of HFC 134a and HFC 32, both of which it has developed using indigenous technology. With this acquisition, the Company will gain the unique advantage of manufacturing all three major HFCs, namely HFC 134a, 32 and 125, which will be marketed under the Company’s FLORON brand. It will also become the only Indian Company to have fully integrated blending capability to offer HFC 410A and 407C to its customers, thereby positioning itself as one of the very few, best-in-class producers in the world. “This acquisition is in line with our strategic direction to further strengthen the Company’s position in the high growth refrigerants market. With this acquisition, we will now have a broader portfolio of environmentally-responsible refrigerants that we will offer to our customers. It also makes us one of the very few producers in the world to be fully backward integrated, leading to greater efficiencies and providing an edge to us in the marketplace.” said Ashish Bharat Ram, SRF’s Managing Director. With a vision of becoming a credible, global player in the Fluorochemicals business space, SRF acquired the Dymel HFC 134a regulated medical pharmaceutical propellant business from DuPont in January 2015 and has recently completed the setting up of a Current Good Manufacturing Practice (cGMP) facility at Dahej, Gujarat and also received the Drug Master File (DMF) from United States FDA.