Polyplex Corporation Ltd., PTL’s
parent company, is a leading producer and exporter of PET
films from India. PTL was setup in 2002, to cater to the fast
growing Packaging, Industrial and Electrical PET Film applications
in the Asia-Pacific region and to address the emerging shortages
in these segments.
PTL commenced commercial production on April 2, 2003 of its
first Polyester Film line located in Rayong province. Following
this, PTL’s next PET film line of 15000 MT capacity
commenced commercial production in November 2003, a record
project time of nine months. In May-July 2004, BOI approved
the restatement of capacity of our PET film plant to 39,000
tons per year.
The Company’s captive PET chips plant has been partially
commissioned with the start of the batch polycondensation
operations in September 2004. After the startup of the continuous
process PET chips plant scheduled for Q-1, 2005, the company
shall not only become self-sufficient in its raw material
requirement but also improve its value addition.
The Company is now in the process of setting up a Metalliser
with 4,800 MT capacity. The metalliser is scheduled for startup
by mid-2005.
These investments have strengthened the Company’s competitive
position in the PET Film business ensuring continued cost
leadership. This together with the demand-supply situation
would enable Polyplex to provide an attractive value proposition
to its customers and investors.
During 2004-05, PTL has taken steps
to setup a Polyester film plant in Turkey and has for this
purpose formed a Company in Turkey, Polyplex Europa Polyester
Film San. Ve Tic. A.S. (PE).
