Aether Industries, a developer of specialty chemicals, announced that it has a deal with Saudi Aramco Technological Company to produce and market the converging polyols technology and product line. According to a statement, Aether Industries and Saudi Aramco Technologies have signed a letter of intent (LoI) to this effect.

Aether Industries expects this transaction to bring in between Rs 150 and Rs 200 crore in income. This manufacturing process had previously been designed and tested by Saudi Aramco Technologies and Aether on a pre-commercial scale. Aether has been collaborating with Aramco on the CRAMS (Contract Research and Manufacturing Services) business model over the past five years.

Aether will take the same products from the CRAMS business model and commercialise and manufacture them under the Exclusive or Contract Manufacturing business model, the company added.