Polyplex (USA), a step-down subsidiary of Polyplex (NSE:POLYPLEX, BOM:524051) has started trial runs for a new BOPET thin film line and an expanded PET resin plant, according to an Indian bourse filing on Friday.
The new thin film line adds 50,000 MT per annum capacity, bringing total US capacity to 81,000 MT while debottlenecking efforts have increased PET resin capacity to 86,000 MT from 58,000 MT, the filing said.
Commercial production is set to begin in the coming days, the company said.
The $124 million investment was funded through internal accruals and borrowings, according to the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments