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news.Dishman Chemicals and Pharmaceuticals' plans to start operations in Shanghai, China have been deferred by a few months. Dishman was planning to complete the construction of the facility in Shanghai by October 2009 and begin operations thereon.
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Reportedly, Dishman had invested around $10m in the Shanghai facility that expands over 40,000sqmt at the Shanghai Chemical Industry Park. The facility will make quaternary salts and intermediates for international customers primarily from Asia and the EU.
VVS Murthy, CFO of Dishman, said that the facility in China, which reflects Dishman’s organic entry into the international market for the first time, must begin operations by around, say, August or September this year. The unit should fetch revenues of around $25-30m during by second third year since beginning of operations.
Mr Murthy said: “At present, all the equipment are being validated as per government rules, and once that is over, operations would start. Currently about 75% of revenues come from contract research and manufacturing services (crams). Revenues from Japan and the US would also help the company,” reported dnaindia.com.