"Leap to Global No.1 After Factory Expansion"
Lotte Fine Chemical announced on the 7th that it has signed a global distribution agreement with Caldic, the world's No. 1 distributor of pharmaceutical-grade cellulose in the United States.
Through this agreement, Lotte Fine Chemical will sell pharmaceutical-grade cellulose products to the global pharmaceutical market for 10 years via Caldic. Pharmaceutical-grade cellulose is a plant-based material made from wood pulp and is used as a coating for tablets and as a raw material for capsules.
Lotte Fine Chemical is currently expanding its pharmaceutical-grade cellulose factory with an investment of 79 billion KRW, to be completed by next year. Upon completion, it will become the world's No. 1 manufacturer of pharmaceutical-grade cellulose in terms of production capacity, moving up from the current second place.
Caldic is the world's No. 1 distributor of pharmaceutical-grade cellulose and a tablet coating material company, supplying pharmaceutical materials to global pharmaceutical companies for over 60 years through 27 locations worldwide. Under this agreement, Caldic will exclusively distribute Lotte Fine Chemical's products to its pharmaceutical-grade cellulose customers for the next 10 years.
Kim Yong-seok, CEO of Lotte Fine Chemical, said, "Through cooperation with Caldic, which has supplied pharmaceutical materials to global pharmaceutical companies for over 60 years, this will be an opportunity for our company to leap to the No. 1 position in the world after the expansion is completed next year."
Simon Tasker, CEO of Caldic, said, "Through the cooperation of both companies, we will provide greater value to global pharmaceutical and health functional food customers."
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