Paras Petrofils has decided to permanently discontinue its manufacturing activity and dispose off all assets related to yarn manufacturing activity subject to approval of the shareholders. The board of directors at its meeting held on May 30, 2014 has approved for the same.
The board has taken this step after reviewing the overall market scenario of the yam industry in Surat as well as the whole of India.
Paras Petrofils is engaged in the manufacture of polyester filament yarn products. It was promoted by the Paras Group, which is engaged in the business of synthetic fabrics like sarees and dress materials and also in texturizing of yarn.
