 "Hikal sells R&D property in Bengaluru")
Hikal Ltd, the specialty chemicals manufacturing company, has sold off its former R&D centre located at Bengaluru South in Karnataka. This piece of land was lying vacant and had no ongoing operations for close to two years after Hikal consolidated its R&D operations at its main site in Pune in 2014 and had transferred all respective equipment & personnel to that site.
“The proceeds of the sale will be used towards the current operations of the company,” informed Hikal in a BSE filing yesterday.
Hikal had acquired the R&D and manufacturing site in Bengaluru in 2001, marking its entry into the pharmaceutical business.
R&D centre in Pune, which became operational in 2009, provides process research for APIs & intermediates (involving multi-step synthesis) and has helped the company in augmenting its pharmaceuticals & crop protection processes.
Hikal provides research services, active ingredients and intermediates to companies in the crop protection and pharmaceutical sectors. While the company’s crop protection facilities are situated at Taloja and Mahad (Maharashtra), its pharmaceutical operations are located at Jigani (Bangalore) and Panoli (Gujarat).
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