Polyplex USA LLC commissions trial runs of two projects

Polyplex (USA) LLC, USA (PU), a Wholly owned subsidiary of Polyplex Thailand Public Company Limited, Thailand (PTL), which in turn is a subsidiary of Polyplex Corporation Limited, has commissioned and started trial runs of the following projects:

a) New brown field BOPET Thin film line with a capacity of 50,000 MT p.a. taking the total capacity in the US to 81,000 MT p.a.

b) Capacity debottlenecking of the existing PET resin plant from 58,000 MT p.a. to 86,000 MT p.a.

The commercial production on these projects is expected to commence within the next few days.

The aggregate capital expenditure for the above projects amounting to about USD 124 Million (excluding working capital) has been met out of mix of internal accruals and borrowings. With the commissioning of above projects, PU becomes the largest and most cost-competitive producer of BOPET thin films in the US.

Shares of Polyplex Corporation Limited was last trading in BSE at Rs. 1213.20 as compared to the previous close of Rs. 1207.85. The total number of shares traded during the day was 2105 in over 299 trades.

The stock hit an intraday high of Rs. 1229.00 and intraday low of 1207.05. The net turnover during the day was Rs. 2570137.00.

Source : Equity Bulls

Keywords

PolyplexCorporation INE633B01018 PolyplexUSA TrialRuns TwoNewProjects