Undetakes demerge of business to create pure play plastics focused entity
Prakash Industries announced that it is underway to demerge the business into a separate company. The demerger will give a new impetus to growth, creating a pure play plastics focused entity.The company is also strategically venturing into flexible plastic packaging business. The company will be manufacturing high performance barrier films and laminates that find application in packaging of food, beverages, oil, personal care and pharmaceutical products.
The flexible plastic packaging business will form a part of 'PVC pipes undertaking' of the company and is being set up at the existing infrastructure at Kashipur, Uttarakhand. The project is being funded entirely through internal accruals and production is likely to commence in May 2018.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU