The Chennai based Shasun Chemicals and Drugs Limited (SCDL) has entered into a Memorandum of Understanding (MoU) with the Eastman Chemical Company, USA to explore collaboration in the field of performance chemicals for specific applications.

The partners have already identified at least two products targeted for both India as well as global markets, and this strategic alliance has already initiated on certain products, which was being given a final shape for the model, Dr S Devendra, managing director and Greg Nelson, chief technology officer (CTO) of Eastman Chemicals told a press conference in Chennai, today to announce the MoU. However, they declined to reveal the details of the products at this stage for market reasons.

They also said the alliance would also explore the areas of process development, engineering work and capital scoping for these developments.

Greg Nelson said Eastman have a long history of alliance with Shasun spanning two decades, and was interested in tapping the specialized technological capabilities of a company like Shasun. He said the alliance would come out with exciting products for the Indian as well as for the global market.

According to Harish Davey, director, corporate development, Eastman Chemicals Company, Eastman have a wide range of performance chemicals which are targeted for specific applications in the areas of pharmaceuticals, photo chemicals, additives, cosmetics etc.

It may be noted that Shasun already has a technical alliance with Eastman for manufacturing and marketing of two excipients, methacrylic acid co-polymer (MAP) and HPMCP (hydroxypropylmethylcellulose phthalate) and have successfully commercialized these products globally.

Eastman Chemicals is a fortune 500 and $5.8 billion US based company into manufacturing and marketing of chemicals, plastics, fibres etc. employing over 15,000 people and with 40 offices all over the world and three plants in the Asia Pacific region.

The Rs.280 crore Shasun is one between the leading bulk drug manufacturer and Contract Research And Manufacturing (CRAM) solution provider in India.