Astral Poly Technik to enter into business of manufacturing, trading of plastic water storage tanks
26th Nov 2020

Astral Poly Technik has decided to enter into the business of manufacturing /trading of plastic water storage tanks and add new capacity, with a total investment not exceeding Rs 75,00,00,000 . Further, as a part of the Company’s strategy to enter into plastic water storage tank business, the Company has today executed a framework agreement to identify the assets that it intends to acquire from Shree Prabhu Petrochemicals. and other parties at Aurangabad, Maharashtra, where the assets inter alia shall include land, building, machineries, stock, and certain intangible assets such as trademark and goodwill, which shall be acquired under separate arrangements to be executed for each asset including delivery.

The Company is also adding new capacity of Plastic Storage Tanks at its existing unit in Gujarat and will commission Production in Q-4 of current financial year.

Astral Poly Technik is engaged in the production of plastic products.