Polyplex Corporation has sold / transferred its minority stake in its step down subsidiary viz. Polyplex (Americas) Inc., USA (Marketing Company) to another subsidiary viz. Polyplex (Thailand) Public Company, Thailand with effective date being January 31, 2013.
Further, with the above sale / transfer of shares, Polyplex (Americas) Inc., USA having become wholly owned subsidiary of Polyplex (Thailand) Public Company, Thailand, has merged with another step down subsidiary viz. Polyplex USA LLC, Alabama, USA, which is implementing project to manufacture PET Film and PET Chips at Alabama. The effective date of merger is January 31, 2013.
Polyplex has established itself as one of the most profitable producers of PET Film by way of cost efficient operations resulting from high productivity and low overheads. Its products have gained wide acceptance in the Global markets, such as USA, Europe, South-East Asia, South America, North America and Australia, where the Company has been consistently exporting about 75% of its production.
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