IOLCP wins prestigious National Energy Conservation Award 2008

IOL Chemicals and Pharmaceuticals Limited (IOLCP), one of the largest producers of organic chemicals and bulk drugs in India, has once again been awarded the most prestigious National Energy Conservation Award 2008 (second rank in chemical sector) for its ongoing efforts towards new technology implementation to conserve precious energy resources. IOLCP won the National Energy Conservation Award consecutively for the previous three years - 2005, 2006 and 2007, as well.

“Availability, reliability and affordability of adequate Power is a prerequisite to India’s sustained growth and the attainment of the status of a developed country over next two decades. 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. R K Thukral, Executive Director, IOLCP.

“We are extremely proud to have received this prestigious award for the fourth time in a row. It is the recognition of our sustained efforts and commitment towards further improving our performance and achieving higher standards in this important area of operations,” added Mr. Thukral.

Apart from the facts that IOLCP currently co-generates around 4 MW of power which is slated to go up to 17 MW and its energy conservation initiatives, IOLCP 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.

According to Mr. Thukral, “Being a responsible corporate citizen, we understand and appreciate our role in environment conservation. We are committed to incorporate environmental management in all our business processes and practices and make a much wider contribution towards this cause in the coming few years.”

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 industrial chemicals and bulk drugs with presence in over 40 countries across the world. IOLCP manufactures and supplies Industrial Chemicals and Bulk Drugs for use in various pharmaceutical applications. Its product portfolio includes industrial chemicals, industrial organic chemicals such as acetic acid, glacial acetic acid, ethyl acetate, acetic anhydride and bulk drugs like ibuprofen.

The turnover of IOLCP in the year 2007-2008 was Rs.361.35 crore and the company is currently in a phase of expansion with an investment outlay of Rs.216 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 Bangladesh, Thailand, UAE, Syria, Singapore, Hong Kong, Pakistan, Egypt and many others. The company has strong business relationships with a number of prestigious clients such as Ranbaxy Labs, Dr Reddy, DS Group, CIPLA, Uflex Industries, ITC Limited, ICI Paints, Asian Paints, Pidilite, Rallis India, Hindustan Polymide, Gujarat Super Phosphate, and Avon Organics Ltd. etc. For more information on IOLCP, please visit http://www.iolcp.com