Supreme Petrochem promoted by Supreme Industries (SIL) and R Raheja Investments was incorporated in Dec. 1989. It manufactures styrene monomer and polystyrene. The polystyrene plant was set up in collaboration with ABB Lumus Crest, USA, at Nagothane, in Maharashtra with an installed capacity of 66000 TPA.
Polystyrene is a thermoplastic resin having applications in television cabinets, car components, novelty items, food packaging, audio and video cassettes, computers, air-conditioners and washing machines, beeds, bangles, etc. It manufactures high quality polystyrene using the proven Huntsman process at its state-of-the-art plant and has a market share of around 55%.
The polystyrene industry have experienced difficult conditions in the past, mainly due to significant capacity additions and lower demand. This adversely affected the profitability of company, But recently due the improvement in the global economy and particularly that of South-East Asia has resulted in improved demand for polystyrene. Also recovery in petrochemical prices has resulted in increase in polymer prices in recent times. Helped the company to improve its profitability.
The company has been certified by several of the industry's leading certifying bodies. This stands as an assertion of the superior quality of its products and adherence to international standards. ISO 9002 from BVQI, ISO 14001 from DNV, Five Star ratings from the Company's Health and Safety Management System from British Safety Council & Dr. R.J. Rathi Award for Environmental Pollution Control.
In 1999-2000, to part finance its expansion project the company allotted 15000000, 10.5% Cumulative Redeemable Preference Shares of Rs 10/- each aggregating to Rs 1500 lacs on private placement basis.
During 2000-2001 it completed the expansion projects to increase the capacity of Polystyrene from 112000 TPA to 204000 TPA. Its Compounded Speciality Polystyrene facility with 17000 TPA commissioned successfully and was under trial runs. Also it has received approval for setting up a Jetty and Chemical Handling Terminal at Raigad, Maharashtra.