Wim Plast has entered into agreement for sale of factory at Pardi unit dated August 9, 2023. The Company has a Factory Building situated on a lease land at Pardi. The factory was constructed mainly for cooler business. Since the business is seasonal in nature, the factory is not operational for full year and shifting of other products to this location is not viable because of limited range which can be produced in this setup.
As the operations of this factory are shifted to nearby factory located in Daman, where the Company has already acquired/created additional space, where the existing business can be continued. Such sale or disposal of unit does not have any impact on the business of the Company. The consideration received from such sale/disposal will be Rs 18.88 crore.
Wim Plast is currently engaged into manufacturing of plastic moulded and extruded articles. The product includes water jugs, house hold trolley, house hold glasses, house hold containers and hot pots.
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