History  
                                  
Polyplex was incorporated in 1984 and commenced commercial operations with its first Film line of 4000 TPA (Ton Per Annum) in May 1988, which was subsequently increased to 6000 TPA. With its operations stabilizing, by the mid 90’s, Polyplex was able to emerge as one of the most profitable producers of Polyester Film in India.

Polyplex undertook an expansion in film capacity by adding another film line of 9000 TPA in March 1996, which was subsequently increased to 14000 TPA. It also integrated backward into the manufacture of Polyester Chips meant for captive consumption, and commenced production in March 1997.

While mirroring industry trends, the Company’s financial performance has been among the best in the industry resulting from the Company’s focus on Polyester Films, its strategic understanding of the PET Film market and operational efficiencies. Initiatives such as TPM (Total Productive Maintenance), BPR (Business Process Reengineering) and implementation of ERP (Enterprise Resource Planning) have lead to sustained improvements in productivity. A turnaround in market conditions since mid-2000 has seen a significant improvement in the profitability of our operations, thus creating conditions for further growth.

The Company also commissioned a Metalliser in India in December 2002. This has enabled the Company to broaden its product portfolio and improve value additions.

Following from the Company’s strategic objective of being a PET Film manufacturer of Global significance and “Near shoring” to main markets/customers, Polyplex expanded its film capacity further by investing in a new film line of 15000 MT (Metric Ton) in Thailand through its subsidiary Polyplex (Thailand) Public Company Ltd. (PTL/ Polyplex Thailand) to cater to the high growth markets of SEA. The new line was commissioned in April 2003 within the budgeted costs and ahead of time. Following this, Polyplex Thailand has set up its next PET film line with a capacity of 15000 MT in a record time of nine months. The line commenced commercial production in November 2003.
Production in both the India and Thailand units has been more than rated capacity. Consequently in 2003-04 capacities were restated at 20000 MT for India and 39000 MT for Thailand, which has been further restated at 42000 MT in 2007-08.

During 2004-05 PTL successfully commissioned two chips plants - a batch process plant with a capacity of 7000 TPA in September 2004 and a continuous process plant with a capacity of 45500 TPA in February 2005. With this, Polyplex Thailand is now self sufficient for PET chips for captive consumption. In August 2005 Polyplex Thailand successfully commissioned a Metalliser with a capacity of 5000 TPA.In May 2008 PTL successfully commissioned second Metalliser with a capacity of 6000 TPA.

To further the twin strategic objective of “Global Player” and “Near shoring” in European and Mediterranean markets the Company took steps to implement a Polyester film plant in Turkey and in September 2004 formed a Company in Turkey, Polyplex Europa Polyester Film San. Ve Tic. A.S (PE). In December 2005 Polyplex Europa (PE), commissioned a new PET Film line with an annual capacity of 24000 TPA along with a 4 MW (Mega Watt) captive co-generation power plant. It also installed a metalliser with a capacity of 5000 TPA which commenced commercial production in March 2006. In December 2006, a continuous process chips plant of the capacity 45500 TPA started commercial production in Turkey. With the startup of this plant, PE is now self sufficient for its captive chips requirement. 

Production in Polyplex Europa (PE) has been more than rated capacity. Consequently, capacity of previous PET Film line has been restated at 29000 MT. Further, a new Pet Film line has been commissioned in May 2008, having production capacity of 29,000 TPA. This line is state of the art line and is capable of producing various speciality products. Now, the total production capacity at Turkey for PET Film is 58,000 TPA. The second metalliser has also been commissioned at Turkey in May 2008, having production capacity of 6,000 TPA. 2 Co-gen sets of 4 MW each have also been added to provide greater power security for the plants.

The capacity of Chips plant has also been increased by de-bottlenecking to 57,600 TPA to match the film capacity. However, only Bright chips are made at Turkey and Silica chips are sourced from PTL.
Demand of PET film in Americas is more than 20% of the world consumption in 2007. For Polyplex Group US has been an important market since early 90’s. To broaden its customer base in US the company had decided to set up a distribution chain in US. Focusing on this objective Company had set up a joint venture by the name of Spectrum Marketing Inc (Spectrum), which started its operations in early 1996. The Company later decided to restructure the ownership of Spectrum. Taking further steps in this direction additional equity capital  was inducted by Polyplex Thailand in December 2005 and Spectrum Marketing Inc. has become a Group subsidiary with effect from January 1, 2006 and has been renamed as Polyplex (Americas) Inc. (Polyplex America).

To broaden its product portfolio and capture larger part of the value chain, in March 2007, Company set up an offline Silicone Coater Plant (160 Mn sqm) for siliconising PET films in India. We have established our presence in the Shingles market in USA and are trying to establish in the filmic Liner market also. The Company wants to increase its coating capacity to cater to the European and Asian markets also. The Company is also working towards developing in-line silicone coated products.
To impart greater focus on value added products, the company’s subsidiary in Thialand, PTL, has installed an Extrusion coating line with an annual capacity of 7800 TPA (150 Mn sqm) at an investment of USD 8 Million and the project has started commercial production from April, 2008.

These investments have strengthened the Company’s competitive position in the PET Film business ensuring continued cost leadership. This together with the current demand-supply situation would enable Polyplex to provide an attractive value proposition to its customers and investors.

The Company is going ahead with its plans of expansion and setting up a new state of the art 8.70 meter wide PET Film line (31,000 TPA) using direct melt together with a continuous process chips plant (57,600 TPA) and a Metallizer (7,000 TPA) at Bajpur, near its existing facilities, in Uttarakhand in India. The project has been enlarged to include a 8.7 meter wide BOPP line along with a 2.85 meter wide Metallizer. The project is expected to start commercial production by mid 2009 with an investment of around USD 112 million. The project would enjoy excise and income tax benefits for a period of 10 years. These plants would cater to the converters/customers in Uttarakhand.

Further, as a measure of improving its product offering to its customers, the Company’s subsidiary in Thailand, PTL is setting up a Cast Polypropylene (CPP) line with capacity of 10,000 TPA and an associated Metallizer having capacity of 4200 TPA. The project is being set up at an estimated capital cost of USD 12 million and is likely to commence commercial production by mid 2009.