Prima Plastics Ltd Company Summary

Prima Plastics Ltd Summary

Prima Plastics Ltd was incorporated as a public limited company on 17 Nov.93. The company came out with a public issue in Apr.95. The Company is the leading manufacturers and exporters of Plastic Products in India. At present, it operate nearly 7 production facilities worldwide out of which 4 Plants are operating in India at Daman (2), Kerala & Ongole and other 3 operating globally at Cameroon - West Africa and Guatemala - Central America.The Company began its export business in the year of 1996. It started manufacturing chairs and have since then expanded product to include Moulded Furniture, Pallets, Insulated box, Crates, Road Safety Products, Waste Management Products and others. Thereafter, it set up a factory at Daman, to manufacture plastic moulded furnitures and consumer durables like plastic chairs, dining tables, briefcases, overnighters, storage bins, etc, with an installed capacity of 3024 mtpa. The company source raw materials from Polyolefins India, Reliance and IPCL. For the first time in India, the company manufactured plastic dining tables through the straight injection moulding process. It also manufactured briefcases and overnighters without the use of metal.During 1997-98, the company has completed expansion project of Rs 10 crores to increase the production capacity by 2025 TPA.The company always brought new innovative furniture models for the ultimate comforts to the customer, it also first first moulded furniture company to introduce High-back chair and dining tables.The company has decided in principle to sell/ dispose its manufacturing facility at Unit I at Daman. The BOD has approved this proposal in its meeting dt. Jan 31, 2004.During 2004-05, the Company set up a a Joint Venture with the name, Prima Dee-Lite Plastics Pvt. Ltd. (PDPPL), to manufacture and cater plastic moulded furniture items and other consumer durable items to the Western African countries and as a result, PDPPL commenced its commercial production in July 2005.