Navin Fluorine International Limited announced an amendment to its 7-year contract with Solstice Advanced Materials US, Inc. (formerly Honeywell International Inc.). The amendment extends the contract tenure by 4 years to December 2032, increasing the potential revenue by approximately $180 million. The total contract value now stands at around $590 million over 11 years.
Navin Fluorine Extends Key Contract with Solstice Advanced Materials
Navin Fluorine International Limited (NFIL) has executed a significant amendment to its existing contract with Solstice Advanced Materials US, Inc., formerly Honeywell International Inc. This amendment, approved by the Board of Directors of NFIL’s wholly-owned subsidiary, Navin Fluorine Advanced Sciences Limited (‘NFASL’), extends the contractual tenure for the manufacture and supply of Hydrofluoroolefins (HFOs).
Enhanced Contract Value and Duration
The original contract, signed on February 25, 2020, and amended on January 28, 2022, was for a 7-year term. The newly executed amendment extends this tenure by an additional 4 years, pushing the contract end date to December 2032. This extension significantly boosts the revenue potential, adding approximately $180 million to the overall contract value. The total contract value now aggregates to around $590 million over the new total contract period of 11 years.
Strategic Impact and Operations
The HFOs will continue to be manufactured and supplied through NFASL’s facility located at its Dahej site. This development underscores the strong ongoing partnership and the strategic importance of this agreement for NFIL’s specialty chemicals business. The company has stated that this intimation is also available on its website.
Source: BSE
