LOW POLYMER PRICE HITS RELIANCE, IPCL
Article Abstract:
The crash in the prices of polymer products has hit the 2 major petro-chemicals producers - Reliance Industries Ltd and IPCL. The prices of polypropylene and PVC have now slumped to their lowest levels in 22 months. The fall in prices may continue till the end of February 1999. The south-east Asian markets have been flooded with these products. China, the largest buyer of these products, has withdrawn from the market as its agricultural season has ended. Reliance Industries Ltd and IPCL have withdrawn all the price concessions on these products. The price of polypropylene has dived from Rs35,600 per tonne in November 1998 to Rs25,800 now. The price of PVC has crashed from Rs31,200 per tonne to Rs24,000 per tonne. The price of high density polyethylene (HDPE) has fallen from Rs39,600 per tonne to Rs34,200 per tonne. (um/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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APAR TO MERGE WITH GROUP CO GAPL
Article Abstract:
Apar Limited (AL) is to be merged with Gujarat Apar Polymers Limited (GAPL). AL's industrial business will be merged with GAPL. The investment business will be retained as a separate company owned fully by its promoters, the Desais. GAPL produces acrylonitrile butadiene rubber at its facility in Ankleshwar. It posted sales of Rs79 crore in 1997-98. AL makes aluminium conductors, transformer oils, rubber processing and other industrial oils and styrene butadiene rubber. The stake of the promoters of AL will increase from 45.5 percent to 91.5 percent in GAPL. GAPL plans to restructure its equity. The shareholders of the de-merged company will get 1.8083 equity shares of GAPL for every share held in AL. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IPCL TAKES THE LEAD FROM RIL, HIKES POLYMER PRICES
Article Abstract:
Indian Petrochemicals Corporation Ltd (IPCL) has raised the prices of its polymer products. The price of polypropylene has been hiked from Rs36,900 per tonne to Rs40,000, that of polypropylene copolymer by Rs4,000 to Rs42,200, that of high density polyethylene by Rs1,600 to Rs40,000 and that of HDPE by Rs 2,500 to Rs 42,375. The new prices are 10 percent lower than the prices of the imported products. The Government of India has levied an 8 percent special duty on imports. (uh)
Comment:
Raises the prices of its polymer products
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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