The genesis of creation of a dedicated platform in the form of Fairchem Organics Limited is to capitalise on the opportunities in the Indian speciality chemical structure.
In November 2015, Fairfax (India) Holdings Corporation (FIH) – investment arm of Fairfax Group incorporated in Canada and managing over USD 45 billion in assets - acquired about 45% of the equity capital in erstwhile Adi Finechem Limited (AFL), listed on the Indian bourses. Equity shares were acquired in a secondary market transaction from the existing promoter-shareholders of AFL. Mr. Nahoosh Jariwala, Founder and Managing Director of AFL continued to lead the Company in their respective positions.
In October 2016, in line with the revised plans and scope of activities on hand, name of AFL was changed to Fairchem Speciality Limited.
Fairchem has perfected the business model of procuring waste generated in the oil refining mills and then using state of the art process equipment to isolate and purify a variety of components from the waste. Some of these components are used as building blocks to make further value-added products like Dimer acid. Fairchem is India’s only manufacturer of Dimer acid used in many consumer products including paints, printing inks, epoxy hardeners, drilling chemicals and moulds. Fairchem also processes Tocopherol which is used in formulating Natural Vitamin-E.