Privi Speciality Chemicals Limited (formerly known as Fairchem Speciality Limited) is India's leading manufacturer, supplier, and exporter of aroma and fragrance chemicals and a globally trusted partner and supplier of bulk aroma chemicals. The Company has in-house integrated manufacturing facilities situated at Mahad in Maharashtra and Jhagadia in Gujarat with knowledge, expertise and capacity to perform critical reactions like Hydrogenation, Condensation, Grignard reactions, as well as unit operations like Pyrolysis, Reactive Distillation, High Vacuum Distillation, Continuous Distillation to deliver consistency.
The Company incorporated in May 25th, 1985. It started manufacturing aroma chemicals in year 1992 with only two products, which it gradually expanded to a range of over 50 products as of today, having a capacity of over 32,500 tons per annum. It develops and produces custom-made aroma chemicals as per specific requirement of the customers.
The company came out with a public issue in Feb.'95 to set up facilities at Sanand, near Ahmedabad, to manufacture 3248 tpa of distilled fatty acids like oleic acid, linoleic acid and palmitic acid; 2894 tpa of rice bran oil grade-1 and 625 tpa of monoglycerides. Company has made private placement in 1996-97, having paid up equity from 7.00 Crores to 8.50 Crores
The company has a technical collaboration with UIC, US. Equipment were procured from Sulzer, Switzerland; Feld & Hahn, Germany and UIC, US. During the year 1996-97, the second phase of Short Path Distillation Plant commenced its commercial production in the month of Nov'96. Company has export his main product viz.Deodorizer Distillate (Mixed Tocopherols) to Henkel Corporation who has buy entire production of this product.
Company has placed the orders for putting up continuous fat splitting plant, which helps the company to upgrading the second stream of by product viz-Residual Oil by converting into split Fatty Acid, which can be upgraded by further processing in Fractionation plant & increased value of domestic sales. During 1999-2000, the company has successfully commissioned Fat Splitting Plant' to increase the availiability of high value fatty acids for sale in domestic market.
In 2001, Company started making Dimer Acid and Monobasic Acid by using one of its finished product streams.
During year 2004, Company enhanced its annual raw material throughput capacity to 6,000 MT. In year 2006, it carried out laboratory trials of further concentration of Tocopherols.
During the year 2010, name of the Company changed from H.K. Finechem Limited to Adi Finechem Limited w.e.f. 19th October, 2010.
In 2011, it focused more on reduction of manufacturing cost per ton. It went through a complete re-engineering of its Energy Consumption System and Installation of new balancing equipments. The raw material throughput capacity was increased from 8,000 M.Tons to 12,000 M.Tons during the year.
In 2013, the Company increased manufacturing capacity further to 18,000 MTPA.
In 2014, Company increased its installed capacity to 24,000 MTPA and undertook CAPEX to increase this capacity to 45,000 MT p.a.
In 2015, it further increased installed capacity to 45,000 MTPA. The Canada- based Fairfax Group signed a Share Purchase Agreement with existing (Indian) Promoters and acquired 45% equity stake in the Company, which completed in February, 2016. During Q3 of year 2015, Company commissioned new High Pressure Fat Splitting Plant and a new Fractionation column was commissioned.
During the year 2016, Company commissioned its new Dimerization plant. In August, 2016, Fairfax acquired 51% equity stake in Privi Organics Limited whose business of Aroma Chemicals is now vested in the Company's wholly owned subsidiary company as per Scheme of Arrangement.
Pursuant to Order of NCLT dated 30 June 2020, a Composite Scheme of Arrangement and Amalgamation was approved amongst Fairchem Speciality Limited (Demerged/Transferee Company), Fairchem Organics Limited (Resulting Company) and Privi Organics India Limited (Transferor Company) and their respective Shareholders, through which business of Privi Organics India Limited (POIL) merged into Fairchem Speciality Limited (FSL). Therefore, the business activities of the Company (FSL) has been demerged/transferred to FOL.
In 2022, Company signed a Joint Venture Agreement with Givaudan SA, a Company incorporated in Switzerland, for manufacturing highly specialized aroma Chemicals for Givaudan and a new Subsidiary, Prigiv Specialties Private Limited incorporated on September 01, 2021, wherein Company controls 51% of total voting power.