Incorporated in Feb.'86, Indian Acrylics was originally formed as a joint sector project by R K Garg and the Punjab State Industrial Development Corporation. The company manufactures acrylic fibre.
The company has a technical collaboration with E I DuPont de Nemours & Company, US.
In 1995-96, the company increased the capacity of acrylic fibre by 6000 tpa. In 1996-97, company has increased the installed capacity of acrylic fibre by 5000 tpa. The company has increased subscribed capital by 5.00 crores, and has issued for cash at par, to the promoters, as stipulated by the financial institutions and approved in the meeting held on 17/03/97. In 1997-98, it increased the installed capacity to 25,000 MT.
During the year 1999-2000, due to significant export performance the Government of India has imposed anti-dumping duty from Japan, Spain, Italy, Portugal, Korea, USA, Thailand, Mexico, Germany and Turkey.
The company has established a Research Development Centre and has been making continuous efforts in developing new fibres in micro-deniers. The company has introduced 0.9 denier fibre for the first time in the world,during 2000-01.
The company has remained the largest Acrylic Fibre manufacturer in the country during the year 2000-01.
The company has received Export Award from Government of India for its best Export performance in Acrylic Staple Fibre for the year 2003-04,for the third consecutive year.