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Prakash Industries to venture into flexible plastic packaging business

Capital Market 

Undetakes demerge of business to create plastics focused entity

announced that it is underway to demerge the business into a separate company. The demerger will give a new impetus to growth, creating a plastics focused entity.

The company is also strategically venturing into flexible packaging business. The company will be manufacturing high performance barrier films and laminates that find application in packaging of food, beverages, oil, personal care and

The flexible packaging business will form a part of 'PVC pipes undertaking' of the company and is being set up at the existing infrastructure at Kashipur, Uttarakhand. The project is being funded entirely through internal accruals and production is likely to commence in May 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 09:31 IST