Transchem (TL) was incorporated as a private limited company on 18 Nov.'76 and converted into a public limited company on 13 Apr.'92. The company is promoted by Chemitex Corporation in association with Rajen Desai,who is the chairman of the company.
TL came out with a public issue of 14.22 lac zero-interest FCDs of Rs.120.00 at par aggregating Rs.17.07 crores in Oct.'93, to meet part of the capital cost, and to finance the margin money for working capital, etc, at a project cost of Rs.27.00 crores. The company manufactures bulk drugs in Maharashtra. The company's main products are frusemide, fenbendazole and albendazoie. TL has signed an MoU with Dalsem Reciap Agro Industries, Holland, for their mushroom project -- a 100% EOU -- with buy-back arrangement for a period of 5 years, extendable for another 5 years. The company exports to the US, Canada, Mexico, etc.
The company is diversifying into mushroom cultivation. TL is also in the process of finalising collaboration with FTC, Holland, for technological transfer in growing asparagus, strawberries and raspberries.
During the year 1999-2000, the mushroom division did well and the sale of Diminazine Aceturate indicate that the company is emerging as a front runner in the product. The company has finalised and commercialised process for Cloursulon and Toldium Phos Sodium.
The company has got a contract during the year 2000-01,from an international firm to supply Triclabendazole.