Prakash Industries is strategically venturing into Flexible Plastic Packaging business in order to exploit the ‘high growth - high margin’ segment in Plastics. 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’18.
Besides, in order to unlock the potential value and future scope of the plastic products business, namely PVC Pipes & Fittings, the company 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.
Prakash Industries is the largest manufacturer of PVC pipes and fitting in North India.
