Promoted by P M Rao, P Janardhana Rao, P Rama Rao and their associates, Fine Plast Polymers was incorporated in Oct. '92. It came out with a public issue in Dec.'93 to part-finance the setting up of its plant in Pamur, Andhra Pradesh. The plant has an installed capacity of 432 tpa for rigid PVC pipes and 778 tpa for PVC fittings.
The company manufactures rigid PVC pipes and fittings like tees, elbows, adopters, reducers, end caps, etc. The pipes are used in agriculture and agro-based activities like sprinkler irrigation systems, process piping, oil and gas and shipping industries.
In 1994, the company signed an MoU with the Andhra Pradesh Industrial and Technical Consultancy Organisation to market its pipes and also to arrange for lucrative joint ventures in the Gulf.
During 1996-97, the company has installed capacity of its PVC Pipe Fittings capactiy from 1338 MTS to 1858 MTS, for which IDBI has sanctioned a Term Loan of Rs 3.60 crores.
In the year under review i.e. 1999-2000, due working capital problems the performance of the company was unsatisfactory and is taking all steps to improve its performance.