PITTSBURGH: Novopor Advanced Science Private Limited, a performance chemicals and material science CDMO, today announced its acquisition of Pressure Chemical Company (“Pressure Chemical” or “PCC”), an affiliate of the Minafin Group and a leading provider of high-pressure and specialty chemistry services. The financial terms of the transaction were not disclosed.

The acquisition is a significant step in Novopor’s strategy to build an integrated specialty chemicals platform by combining early-stage development capabilities with large-scale manufacturing. The partnership will support continued investment in expanding Novopor’s facility footprint, enhancing technical capabilities, and providing customers with seamless access to fine and specialty chemical manufacturing at scale.

Founded in 1964 and headquartered in Pittsburgh, Pennsylvania, Pressure Chemical brings more than six decades of experience in high-pressure chemistry, polymerization, and alkoxylation. The company offers process development, piloting, and low-volume, high-value manufacturing, with a strong track record of solving complex technical challenges. Its skilled team, flexible infrastructure, and long-standing customer relationships make it a trusted partner for specialized chemical solutions—and a natural complement to Novopor’s expanding platform.

“This acquisition strengthens our ability to support customers across the full development lifecycle—from early-stage innovation through to commercial manufacturing,” said Radhesh Welling, CEO of Novopor Advanced Science Private Limited. “Pressure Chemical brings deep technical expertise, a highly skilled team, and strong customer relationships that are highly complementary to our platform. Together, we will invest in expanding our facility footprint, enhance our capabilities in complex chemistries, and create seamless access to large-scale fine and specialty manufacturing. This is an important step forward in building a differentiated, high-impact platform for our global customers.”

“Pressure Chemical and Minafin have built a strong foundation, recognized for our collaborative and innovative solutions for customers with complex development needs,” said Sandra Cernick, President of Pressure Chemical. “This new partnership enables us to further invest in our people, facilities, and capabilities while expanding our ability to support customers’ development and scale-up through commercial manufacturing. We’re excited to join Novopor in creating a platform centered on technical excellence and customer focus.”

KPMG, PwC, and Wombat Capital Markets LLC served as financial advisors, and Honigman LLP, JSA and Clifford Chance LLP served as legal advisors to Novopor. Fairmount Partners, Mazars and Pierre Abitbol served as advisors to Pressure Chemical Company.

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Ashish Kumar Chauhan said, “Entrepreneurs face multiple challenges, and the concerned parties including the employees and vendors at times stay indifferent to these problems. Entrepreneurs can be described as writers, directors, producers, and lead characters of their movies, and sometimes they happen to be only spectators. In 1995-1996, small and medium-sized companies were allowed to raise funds from the stock market. However, since many of these companies disappeared later, it had to be stopped. Again, in the year 2012, it was reintroduced with strict  regulations to enable SMEs to raise funds from the markets.”

“In business,  succession planning becomes easier with the listing of the company on the stock exchange. When the rest of the world is doing so why India should not do it? Indian businesses now are very different from the way it was in the past. Signing a share certificate is similar to signing a currency note,  so with a listing of the Company on the stock exchange comes the big responsibility“, he added.

In their joint address to the gathering, Rathin Sinha highlighted that for the next year the focus of DCCIA will be on cleanliness drives and traffic management for solving the traffic woes on Pune  Nagar Road.

In his address, H. P. Srivastava recalled the journey of the Chamber over 30 years and expressed his sincere thanks and gratitude to all stakeholders. We aim to make this Industrial Belt a preferred investment destination. If we have to make India a 5 trillion economy, Maharashtra needs to contribute by being a Trillion economy. To be there, we have to ensure that there is “Ease of Business” for every Industry. With the operationalization of the Maharashtra Trade & Investment Act 2023 through the ‘Maitri’ portal, it should soon be a reality. Further, the Government of Maharashtra will soon announce its New Industrial Policy for which DCCIA too has given several suggestions. It should also give a major boost to Industry, he added.

The DCCIA lifetime achievement award was presented to Vishal Makar, Managing Director of the Oriental Rubber Industries

The DCCIA Best Industrialist Award for 2024 was given to Dr Sudhir Mehta, Founder & Chairman of  Pinnacle Industries Limited & Eka Mobility Limited. Many other awards for different categories were also presented on the occasion.

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Tally MSME Honours is an annual initiative to recognize businesses and entrepreneurs for their contribution to the economic advancement of the nation. The honors recognize and celebrate the diversity and the positive impact of MSMEs through their best practices at the grassroots level. A platform to reckon with which is also being supported by several renowned organizations, this year the initiative reached the length & breadth of the country and honored businesses from remote and smaller regions like Unnao, Agartala, Vapi, and Asansol amongst others. This is a true testament to MSME Honours being an inclusive recognition platform to ensure that the real impact makers across the tiers of cities, segments, and the unsung heroes driving the economy are celebrated. These honors are given out once a year on the occasion of International MSME Day and apply to all types of businesses with a turnover of fewer than 250 crores and a valid GSTIN.

Shubham Patil from Genesis Tech Engineers Pvt Ltd is honored in the ‘New Gen Icon’ category. The company specializes in MEP (Mechanical, Electrical, Piping) system design for a diverse range of industries, including semiconductor infrastructure, energy sector power plants, solar infrastructure, transportation, space, and chemical-oil-gas designs. Genesis Tech Engineers provides MEP design validations, ensuring compliance with engineering standards and local government policies. The company also offers comprehensive project management solutions, aiming to deliver projects within agreed timelines. Their Special Project R&D Department focuses on innovation and automation, tackling complex engineering challenges.

Kavita Chakraborty from Konnect Consultancy Services Pvt Ltd is honored in the ‘Wonder Woman’ category. The company delivers comprehensive financial services—bookkeeping, taxation, and payroll—primarily to the export sector. Utilizing both online and traditional sales channels, the firm has achieved steady growth, expanding its client base and enhancing customer satisfaction.

Celebrated across four zones (East, West, North, and South) of the country, the honors were given across 5 categories:

• Wonder Woman: Recognizing women who have overcome challenges to establish thriving businesses, inspiring others in the process.
• Business Maestro: Celebrating seasoned professionals whose expertise and resilience serve as guiding beacons for aspiring entrepreneurs, laying the groundwork for enduring success.
• New Gen Icon: Highlighting startups as dynamic leaders in the business landscape, pioneering fresh solutions to age-old challenges, and carving out new paths for growth.
• Tech Transformer: Honoring businesses at the forefront of technological advancement, leveraging digital tools to drive efficiency and effectiveness in their operations.
• Champion of Cause: Acknowledging champions who prioritize the global well-being of MSMEs, making significant contributions towards fostering a more sustainable and inclusive business environment.

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Selection to the 2024 Training Industry Top Leadership Training Companies lists was based on a comprehensive evaluation of various criteria. This included assessing the breadth and quality of program and service offerings provided by each company, examining their industry visibility, innovation, and impact within the leadership training market, analyzing the representation of clients and customers served by these companies, and evaluating their business performance and growth metrics. Each criterion was meticulously considered to identify the most outstanding and impactful leaders in the field of leadership training, ensuring that the selected companies excel not only in delivering effective programs but also in making significant contributions to the evolution and enhancement of leadership development practices across industries.

Pallavi Jha, Chairperson, and Managing Director of Dale Carnegie India, shared her perspective on this achievement, stating, “We are honored to be recognized by Training Industry, Inc. as a top provider of leadership training. At Dale Carnegie, we are committed to empowering leaders with the skills and confidence they need to drive meaningful change and success within their organizations.”

The company’s innovative methodologies and dedication to excellence have earned it widespread acclaim and trust among leading organizations across sectors. This recognition underscores Dale Carnegie’s unwavering commitment to elevating leadership standards and driving organizational growth here in India as well, empowering leaders to navigate complex challenges and achieve lasting success in their professional journeys.

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INDIA: CriticalRiver Inc., a leading technology solutions provider announces that 100% of its employees will now have ownership in the company through its lucrative ESOP initiative, marking a significant milestone in its commitment to empowering its workforce. This move underscores CriticalRiver’s commitment to fostering a culture of customer-centricity, employee empowerment, and shared success. CriticalRiver embarks on a new chapter where every team member has a stake in the company’s future. With over 1,000 employees across 9 global locations, this strategic move reinforces the company’s commitment to retaining its top talent. As part of the transition, CriticalRiver will grant 100 ESOPs to each employee annually based on their years of service. Furthermore, each employee’s account will receive an additional 100 ESOPs each year. This move not only reflects the company’s dedication to building long-term relationships with clients and maintaining a positive company reputation.

According to the Harvard Business Review, businesses with at least 30% employee ownership tend to be more productive, experience faster growth, and have a lower likelihood of going out of business compared to their counterparts. In addition to ensuring the continuity of quality talent, this model reinforces a customer-centric approach, where employees deeply invest in satisfying clients and meeting their expectations, thereby securing the longevity of the organization.

Commenting on the milestone, Anji Maram, Founder & CEO of CriticalRiver Inc., said, “This strategic move is more than a milestone; it’s a testament to our confidence in our team and our collective future. Aligning with our visionary goal, we are setting the stage for propelling CriticalRiver towards revenues of $500 million by 2030 and achieving our Initial Public Offering (IPO) vision thereafter. The ESOP further reinforces our commitment to innovation and excellence, ensuring unwavering customer confidence. This strategic shift underscores our unwavering commitment to bolstering client confidence, and we’re further reinforcing the founders’ and management’s steadfast dedication to nurturing the organization’s growth.”

Chandra Chandragiri, CFO of CriticalRiver Inc., expressed enthusiasm about the new journey, emphasizing the strategic decision as a testament to their faith in their employees, who are now more than ever the pillars of the company’s success. “For clients, this transition promises not only improved service quality but also a partnership model where employees are deeply invested in satisfying clients and meeting their expectations. This alignment fosters better customer service, innovative solutions to client needs, and a shared sense of purpose in achieving mutual success.”

The initiative is expected to attract and retain top talent, improve job satisfaction, and foster a collaborative, and innovative work environment. It reflects the company’s forward-thinking approach and dedication to creating a sustainable and prosperous future for its employees and stakeholders, enhancing its capability to serve clients as true partners in their journey.

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CS Manish Gupta, President, of the ICSI graced the occasion as Chief Guest wherein certificates were to approximately 150 Associate (ACS) / Fellow Members (FCS) and Members qualified for the PMQ courses of the Eastern Region.

CS Sandip Kumar Kejriwal, Council Member, CS Soumya Sujit Mishra, Chairman, EIRC of the ICSI, and Shri Ankur Yadav, Joint Secretary (SG), the ICSI were also grace the occasion.

The new office of the ICSI EIRC will function from CCGRT, Kolkata. CCGRT Kolkata which is situated in New Town Kolkata has a well-equipped research center of the ICSI and the EIRC of the ICSI will provide its various training programs and classroom teaching to the students and professional development programs for its members at the new location.

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INDIA: According to the social business network LinkedIn, Vitesco Technologies, a leading international developer and manufacturer of state-of-the-art powertrain technologies for sustainable mobility was awarded the LinkedIn Top Companies 2023 ranking – three times in its first go as a stand-alone company: in France, India, and the United States. That means: The company with around 38,000 employees worldwide is one of the most attractive employers on each of the three continents on which it operates.

“We are proud of this award, which demonstrates our commitment to the professional development and personal growth of our employees,” explains Ingo Holstein, CHRO at Vitesco Technologies: “We want our company to be a place where every employee can find purpose at work, can feel safe to speak up, and can be confident that they are seen as the individuals they are.”

Every year, the LinkedIn Top Companies ranking recognizes companies that offer their employees the best career opportunities. Besides professional development, selection criteria for this ranking also include work-life balance, commitment to diversity and inclusion, and the ability to attract and retain top talent.

In India, the company employs a strong workforce of 1495 employees. Recognizing India as an important hub, the company is looking forward to increasing its employee base and is looking for employees with skills in different areas.   

Vitesco Technologies offers generous work-life balance benefits with flexible work schedules to help employees achieve their professional goals. They offer different path offerings which allow employees to advance within or outside their field and improve their career trajectory. Its goal is to help each of its employees find success while cultivating new skills and strengthening current ones. It encourages collaborative engagement initiatives that help familiarize the team members in other functional areas and countries to collaborate and gain new ways of thinking. The employees are also permitted to work remotely as long as it is compatible with their roles and responsibilities.

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