STEER Gives Boost for Horlicks Production, GSK Acknowledges Technology
7.1.2020 09:30:00 EET | Business Wire | Press release
STEER Engineering, creator of advanced materials platform technologies that effectively transform and functionalise materials in the fields of plastics, pharmaceuticals, food & nutraceuticals, biomaterials and biorefining, announced that it has reached an out-of-court settlement with Glaxo Smith Kline Group (GSK) with regard to the use of their revolutionary technology to produce Horlicks.
Following the settlement, GSK has issued a public statement acknowledging STEER’s contribution in creating step change technology to produce Horlicks. GSK said,“Using STEER’s state-of-the-art technology, high quality extruders, and dedicated personnel, the project has brought a new-to-world technology to fruition, involving numerous improvements compared to the traditional way Horlicks is made. The new process requires only half the footprint of a traditional factory, uses a fifth of the water and reduces the energy usage by 80%.”
Stating that the two companies have reached a satisfactory settlement, the Managing Director of STEER, Dr. Babu Padmanabhan said, “There is no other technology available in the market that has this immense cost benefit and extraordinary performance. Apart from Horlicks, the technology can be used for the manufacture of other food ingredients. STEER will continue to remain focused on supporting India’s quest in bridging the nutrition gap and help ensure food supply-demand stability.”
It may be recalled that in December 2018, STEER had gone to court seeking protection of the technology and know-how it had provided to GlaxoSmithKline Group (GSK) for manufacture of Horlicks, after GSK announced the deal with Hindustan Unilever Limited for its Consumer Healthcare business in India, leading to IP issues which have been settled.
About STEER
STEER is a creator of advanced material platform / manufacturing technologies that transform functionality of differentiated plastics, pharmaceuticals, food & nutraceuticals and biomaterials. Founded in 1993 by Dr. Babu Padmanabhan with a vision to “steer a new world” – a world that is healthy and sustainable, STEER today has 5 global offices and 10 satellite offices, serving over 39 countries and employs over 500 gifted engineers, scientists and technicians across the globe. With 60 patents for breakthrough innovations, the company is committed to the design, creation and implementation of game-changing continuous process technologies.
- Linkedin: https://www.linkedin.com/company/14623159
- Twitter: @STEER_Official
- Facebook: https://www.facebook.com/STEERWorld/
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005566/en/
Contact information
Amit Jain, Equator Consultants
amit@equatormpr.com
+919886062866
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
1NCE and Netmore Combine Cellular and LoRaWAN Access to Deliver Global IoT Coverage11.3.2026 09:40:00 EET | Press release
1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, today opened access for its customers to the LoRaWAN® services of Netmore, the world’s leading low power wide area network operator for massive IoT. With growing demand for low power long range connectivity, the Netmore LoRaWAN Network Server (LNS) Plugin provides 1NCE customers access to cellular and LoRaWAN IoT coverage options through one platform. The launch of the Netmore Plugin marks the beginning of strategic collaboration to expand the combined offering of the two biggest massive IoT network specialists — 1NCE, the biggest private IoT network in the cloud and Netmore, the largest LoRaWAN network and platform provider in the world. 1NCE’s software and connectivity platform has become a new industry standard. Working together to support their respective customer bases with both cellular and LoRaWAN technology delivers a powerful layer of redundancy to cover the hardest to re
1NCE and Netmore Combine Cellular and LoRaWAN Access to Deliver Global IoT Coverage11.3.2026 09:40:00 EET | Press release
1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, today opened access for its customers to the LoRaWAN® services of Netmore, the world’s leading low power wide area network operator for massive IoT. With growing demand for low power long range connectivity, the Netmore LoRaWAN Network Server (LNS) Plugin provides 1NCE customers access to cellular and LoRaWAN IoT coverage options through one platform. The launch of the Netmore Plugin marks the beginning of strategic collaboration to expand the combined offering of the two biggest massive IoT network specialists — 1NCE, the biggest private IoT network in the cloud and Netmore, the largest LoRaWAN network and platform provider in the world. 1NCE’s software and connectivity platform has become a new industry standard. Working together to support their respective customer bases with both cellular and LoRaWAN technology delivers a powerful layer of redundancy to cover the hardest to re
Codethink Opens Early Access to IEC 61508 Mapping for the Eclipse Trustable Software Framework11.3.2026 09:07:00 EET | Press release
EMBEDDED WORLD--Codethink today opened early access to its mapping between the Eclipse Trustable Software Framework (TSF) and IEC 61508, the international standard governing the functional safety of electrical and electronic systems. The mapping establishes a transparent relationship between the engineering principles of the Trustable Software Framework and the objectives defined in IEC 61508. By making this work available as an early preview, Codethink is inviting organisations interested in applying open source approaches to functional safety to review and begin working with the mapping while the work continues to mature. IEC 61508 forms the foundation of many domain-specific safety standards, including ISO 26262 for automotive systems. The early access reflects Codethink’s long-standing commitment to open development of software engineering methods. “This preview release reflects our belief that trust in software must be engineered in the open," said Paul Sherwood, Codethink’s Chair
FERM FOOD Acquires Orkla’s Former Site and Scales Up: Up to 20,000 Tonnes of Fermented Ingredients Per Year11.3.2026 08:00:00 EET | Press release
Danish ingredient producer FERM FOOD is acquiring Orkla’s former manufacturing site in Skovlund, Denmark, effective 1 April 2026. The acquisition provides new production facilities to expand the output of fermented plant-based ingredients for the food industry — driven by export demand that has emerged faster than expected. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310904877/en/ Jens Legarth (CEO), Rikke Matthiesen (CSO), and Torbjørn Tyndkjær-Thomsen (Food & Process Developer) at FERM FOOD’s new production facilities. “We have outgrown our current facilities. With the Skovlund site, we can supply many more food manufacturers in Denmark and abroad. Global interest has developed faster than we expected — and that is why we are scaling up now,” says Jens Legarth, CEO of FERM FOOD. Once fully ramped up, the new fermentation facility is expected to reach an annual capacity of up to 20,000 tonnes, depending on product mix
Galderma Buys Back Shares Worth CHF 232 Million in the Context of Accelerated Bookbuild Offering11.3.2026 08:00:00 EET | Press release
Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that it has agreed to repurchase 1.6 million shares at a price of CHF 143.75 per share for a total consideration of CHF 232 million in the context of the accelerated bookbuild offering (“ABO”) of Galderma shares by Sunshine SwissCo GmbH (“EQT”), Abu Dhabi Investment Authority (Private Equities Department) and Auba Investment Pte. Ltd. (all together the “Selling Shareholders”) launched yesterday evening. The repurchase was made at the same price per share determined by the bookbuilding offering. As a result of yesterday evening’s ABO, the Selling Shareholders have fully divested their remaining stake in Galderma. The repurchase, which is expected to settle on March 13 is being financed by Galderma’s existing liquidity on hand and will not affect the company’s ability to deliver on its strategic and financing priorities. The shares will be held in treasury for future use in connection with Galderma's employe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom