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IPCL Merging 6 Polyester Companies

By Anonymous
Publication: Asian Textile Business
Date: Thursday, June 1 2006

Indian Petrochemicals Corporation Limited (IPCL) will merge six polyester manufacturing companies within the group; namely, Apollo Fibres Ltd. (AFL), Central India Polyester Ltd. (CIPL), India Polyfibres Ltd. (IPL), Orissa Polyfibres Ltd. (OPL), Recron Synthetics Ltd. (RSL) and Silvassa Industries

Pvt. Ltd. (SIPL) with IPCL, subject to necessary approvals.

The six companies are engaged in manufacture of polyester staple fiber and polyester filament yarn. IPCL is engaged in the manufacture, interalia, of MEG. Considering the global dynamics of demands and supply of MEG, it is considered advantageous to convert MEG locally into value added products, such as PSF and PFY directly rather than export or supply of MEG as an intermediate product. The twin advantage of assured feedstock utilization and combined manufacturing facilities of the six companies would enhance efficiencies throughout the value chain.

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