EPL Limited plans to form new wholly-owned subsidiary company in Brazil

30 Mar 2022 , 09:58 AM

EPL Limited board in its meeting held on Tuesday has approved for incorporation of a wholly-owned subsidiary of the Company in Brazil.

The objective of the formation of a subsidiary in Brazil is to set up a greenfield project for the packaging tube business, which will help to leverage the growth opportunities in the attractive, fast-growing market and will also help the Company to become more agile and customer focused, company said in a regulatory filing.

“We will inform the Stock Exchanges of the prescribed details in due course when the abovementioned subsidiary will be incorporated,” it said.

At around 10.01 am, EPL Limited was trading at Rs182.25 per piece up Rs0.85 or 0.47% on the BSE.