Sumeet Industries Board approves expansion plans

Sumeet Industries Ltd has announced that the Board of Directors of the Company at its meeting held on February 19, 2007 has discussed and approved the following Expansion Plan.

- Expansion:

Expansion of its Polyester POY spinning capacity from existing 12000 Tons per annum to 56000 Tons per Annum by setting up 10 More lines of Polyester POY spinning plant with annual installed capacity of 44000 Tons.

- Backward Integration:

To Install Continuous Poly condensation Plant (C P Plant) with a capacity of 56000 Tons per Annum. That will enable the Company to produce Polyester POY from PTA,MEG.

- To Raise fund through IPO/Pref. Allotment to Strategic Investor, FII, HNI etc. Subject to approval of Shareholder.

Source : Equity Bulls

Keywords