Growth Story

OUR STORY

Since inception in 1984, we have grown from a small single-line facility at Khatima in the foothills of the Himalayas in India, into more than half a billion-dollar multinational presence with manufacturing and distribution facilities in India, South-East Asia, Europe, the Americas and China.

The Polyplex model of expansion moves us closer to our regional markets to deliver more efficiently and cost-effectively to our customers. Our fully integrated green-field film lines with upstream resin plants and downstream metallizers and other offline coating capabilities ensure cost-competitiveness, environmental friendly besides bringing the advantages of a single-point supply for a portfolio of film products to our customers. We have a unique model of on-shore, off-shore and near-shore business locations which complement our focus on customer relationship, access & intimacy.

POLYESTER (PET) FILM

Having begun with a single PET thin film line of 4,000 tons per annum in India, Polyplex now has the sixth largest capacity of polyester (PET) film globally.

India

By 1996, Polyplex was producing 20,000 tons per annum in India and had backward integrated with capabilities to produce PET resin to feed captive requirements. In 2009, to meet the growing domestic demand for PET film, Polyplex added a state-of-the-art 8.70 meter wide thin PET film line, a PET resin plant and a metallizer at its new manufacturing facility in Bazpur, near Khatima. The present capacity of the two Indian operations is 55,000 tons per annum of base PET film including the capability to produce intermediate thickness up to 150 microns.

Thailand

In 2003, with the strategic objective of adding capacity closer to one of its main regional markets in South-East Asia, Polyplex set up a new plant with a capacity of 21,000 tons per annum at Rayong, Thailand through its subsidiary Polyplex (Thailand) Plc (PTL). In the same year, PTL added a second thin PET film line with a similar capacity and followed it up in 2004/2005 with the commissioning of a batch-process resin plant and a continuous-process resin plant, thereby making it completely self-sufficient in PET resin. In 2013, PTL has set up a Thick PET film line and batch resin plant in Rayong, Thailand adjacent to its existing facility with an annual capacity of 28,800 MT for the film plant and 28,000 MT for the resin plant.

Turkey

In 2005, Polyplex extended its manufacturing footprint into Turkey, moving closer to the European and Mediterranean markets and firmly establishing Polyplex as a global company. Through its subsidiary Polyplex Europa (PE), a facility was set up in the European Free Zone at Çorlu, Turkey.

PE began with a thin PET film line with a capacity of 29,000 tons per annum and in 2006, a continuous process PET resin plant was added for meeting its captive requirements. Two co-generation power plants of 4 megawatts each were installed to provide greater power security for the facility. In 2008, a second thin PET film line with a capacity of 29,000 tons per annum was commissioned, taking the total capacity to 58,000 tons per annum of base thin PET film.

In September 2013, PE incorporated a 100% owned distribution subsidiary in Turkey by the name of POLYPLEX PAKETLEME ÇÖZÜMLERİ SANAYİ VE TİCARET ANONİM ŞİRKETİ to facilitate better market reach in local the Turkish market.

USA

Americas account for about 12% of the world's consumption of thin PET film and has, since the 90's, been a significant market for Polyplex. In 1996, Polyplex moved closer to its North American customers through Spectrum Marketing, Inc., a joint venture based in Fort Worth, Texas, for warehousing and distributing Polyplex products. This entity was acquired in 2006 and renamed as Polyplex (Americas), Inc. In view of the growing American market demand and the absence of new PET film capacity, Polyplex decided to invest in the USA in 2011. Polyplex USA LLC, a wholly owned subsidiary of PTL, was incorporated and a green-field facility comprising a thin PET film line was started in April 2013 in Decatur, Alabama followed by the PET Resin plant in July 2014. In July 2012, Polyplex has acquired some metallizing assets located at Austell, Georgia and have relocated most of these assets to Decatur, Alabama while some had been shifted to other group locations. With effect from January 31st, 2013, Polyplex (Americas) Inc. has been merged with Polyplex USA LLC, Alabama.

China

In 2009, addressing the strategic need to establish a long-term presence in the fast-growing Chinese market, Polyplex incorporated Polyplex Trading (Shenzhen) Co. Ltd. as a distribution entity in China.

Netherlands

In April 2013, Polyplex expanded its market presence in the EU by setting up a wholly-owned distribution company in the Netherlands named Polyplex Europe B.V. The distribution entity is fully owned by Polyplex (Thailand) Public Company Limited (PTL).

Indonesia

In October 2017, a new Company has been incorporated in Indonesia by the name of "PT Polyplex Films Indonesia" as a wholly-owned subsidiary of Polyplex (Thailand) Public Company Limited. This manufacturing location will cater mainly to the domestic market in Indonesia and also the regional / other export markets.

POLYPROPYLENE (PP) FILMS

In the backdrop of rapid demand growth rates in India and the need for a single-point supplier of a wider range of packaging films, in 2010, Polyplex diversified its product portfolio to include a range of Biaxially Oriented Polypropylene (BOPP) film products by commissioning a line with a capacity of 35,000 metric tons per annum at the Bazpur facility. The same year, a Cast Polypropylene (CPP) film line with a capacity of 10,000 tons per annum was added at the Rayong facility in Thailand. This was followed by commissioning of two Blown PP film lines in Oct' 2013 and June’2018 respectively at Rayong, Thailand with the total annual capacity of 8,845 tonnes.

The Company has recently announced a new BOPP line adjacent to the PET film line in Indonesia which would help diversify the product offering and help mitigate challenges posed by concerns surrounding sustainability and provides an opportunity for the Company to grow in a familiar industry. The stated capacity of BOPP film plant is about 60,000 TPA. It is expected to be commissioned in H1 2021-22.

VALUE ADDED PRODUCTS

Innovating to simplify product sourcing, improve services and reduce costs for our customers, Polyplex has continuously added downstream facilities to offer an expanded product portfolio that includes Metallized films, Holography, Transfer Metallized Paper, Siliconised Polyester Release Liners, Extrusion Coated films and offline Chemically Coated films.

In 2002, Polyplex restructured the polyester industry value-chain and set a global benchmark for efficiency by commissioning an in-house metallizer at Khatima with a capacity of 4,800 tons per annum. This was followed by adding 4 metallizers at Rayong, 3 at Corlu, 3 at Bazpur, 1 in the USA and some additional metallizing assets in the USA through acquisition, part of which was later shifted to group entities.

Due to expansions planned for new segments of specialty products, the Company is setting up a new Metallizer line in India with the annual capacity of around 6100 MT/annum. It is expected to be commissioned in Q3 2019-20. The metallizer in Indonesia (green field expansion) is expected to commence commercial operations in September 2019.

To deliver similar benefits to the Pressure Sensitive Adhesive industry, a state-of-the-art silicone coating line with an annual capacity of 160 million sq. meters for the production of sophisticated Siliconised Polyester Release Liners was commissioned at Khatima in 2007. This was followed by a second silicone coating line with a capacity of 500 million sq. meters at Rayong in 2011. Another line with an annual capacity of 50 million sqm is expected to be commissioned in Rayong in Q2 2019-20.

In April 2008, an Extrusion Coating line with an annual capacity of 150 million sq. meters for the production of Thermal Lamination film was commissioned at Rayong, Thailand. Subsequently, a second Extrusion Coating Line with an annual capacity of 215 million sq. meter was commissioned at Rayong, Thailand in June 2013.

With the objective to enhance its Product Portfolio, Company commissioned an offline chemical coating line in Turkey in 2013-14 followed by commissioning of two lines in India in FY 2014-15 and FY 2018-19 respectively. Another offline coating line with an annual capacity of 1680 MT is under implementation in Thailand.

Polyplex has successfully commissioned a laminating machine in India in Q1 FY 2019-20 to facilitate Transfer Metallized Paper business and has also commissioned five holography lines in India which will further enhance the product basket. Two more holography lines are under implementation across the group.

RECYCLING OF INDUSTRIAL WASTE

Polyplex has set up a recycling unit in Thailand with a capacity of 3000 MT per annum in order to provide a sustainable solution for film based process waste. This facility was further expanded in FY 2018-19.