Incorporated on 17 Nov.'91, Hansaflon Plasto Chem (HPCL) was promoted by S K Gupta, C K Gupta and Eckard Zulch, Germany. The promoters also have interests in Temperite Engineering Company (TEC) and Malanpur Leathers. HPCL is managed by S K Gupta as Managing Director. In Mar.'93, the company came out with a public issue of 35.6 lac equity shares, aggregating Rs 3.56 cr, to part-finance a project to manufacture non-stick poly tetra fluoro ethylene (PTFE) also known as teflon coatings, and to meet working capital margins. The total requirement of funds was estimated at Rs 8.56 cr. Products of the company include PTFE and leather goods. HPCL has a technical collaboration with Eckard Zulch, Germany, for technical know-how for the manufacture of non-stick coatings. It has entered into a marketing agreement with Voltas to market its products. The company has also achieved a major break through in fusion technology to manufacture magnesium oxide, an import substitute. Commercial production was started in Oct.'95. In 1995-96, the company received a loan of Rs 5 cr from IDBI and aproximately 10 cr is to be financed through equity issue, for further diversification and expansion of fused magnesia plant. During 1996-97, Second phase of fused magnesia plant has been divided into two phase, first phase was commissioned on Sep.'96, and phase II is to be commissioned by Sep.'97. HPCL has recently signed an agreement with an Collaboration of M/s Akzo Nobel Coatings SPA, Italy for manufacturing Water based PTFE Coating in India for selecting countries in South East Asia including India. The technical collaboration arrangements with M/s Eckard Zulch Gmbh & Co., Germany has been fully absorbed.