Incorporated in 1986 as a division of Asian Paints India, Apcotex Lattices (ALL) was separated from the former in 1991 to enable closer management focus.
It manufactures synthetic rubber lattices such as vinyl pyridine latex and styrene butadiene rubber latex. In technical collaboration with a German company, it set up a plant at Taloja, Maharashtra, to manufacture 750 tpa of vinyl pyridine latex (VPL). VPL finds application in the tyre industry. styrene butadiene rubber finds application in the textile and paper industries. This unit has recieved ISO 9002 certification from M/s TUV India Pvt Ltd during the year 2000-2001.
ALL issued equity shares to the shareholders of Asian Paints. It came out with a rights issue in Dec.'92 to part-finance the expansion project to increase the capacity of the plant from 2780 tpa to 3780 tpa. It also increased the installed capacity of Synthetic rubber from 1500 mt to 10000 mtpa, with an outlay of Rs 30.40 crores.
High input cost and availability of imported rubber and latex at dumping prices have put the company's margin under pressure.