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Ester Industries Ltd. Capital/Financing Update 2019
62215_rns_2019-05-13_7c1fa1d6-9cf4-4be8-b95d-6d7363cf545b.pdf
Capital/Financing Update
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Date: 13th May, 2019
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Department of Corporate services | Exchange Plaza, |
| Phirojee Jeejeebhoy Towers | Plot no. C/1, G Block, |
| Dalal Street, Mumbai - 400023 | Bandra-Kurla Complex, |
| Sandra (E), Mumbai - 400051 | |
| Scrip Code: 500136 | Symbol: ESTER |
Dear Sir,
Subject - Press Release : Ester Industries partners with a global chemical leader in manufacture of innovative PBT products
We wish to submit the Press Release on above subject matter. Please acknowledge the receipt of the same.
Thanking You
Yours Faithfully For Ester Industries Limited
P_0--
Diwaker Dinesh Head-legal & Company Secretary
Ends: As Above
Ester Industries partners with a global chemical leader in manufacture of innovative PBT products
Gurgaon, 13th May, 2019: Ester Industries Limited, India's leading manufacturer of Polyester Films, Engineering Plastics and Specialty Polymers, has entered into a long term agreement with a global chemical leader to supply innovative POLYBUTYLENE TEREPHTHALATE polymers.
Polybutylene Terephthalate (PBT) is manufactured from virgin raw materials. The innovative PBT on the other hand is manufactured from recycled PET waste and as a result is far more environmentally friendly while offering the same benefits as PBT. The product is used across various applications which include textiles, fibre, automotive, industrial and consumer electronics. The customer owns the Intellectual Property on the product while Ester Industries is one of the only manufacturers in the world who possesses the capability and infrastructure to manufacture these products.
Speaking on the development, Mr Arvind Singhania, Chairman, Ester Industries said, "We are delighted to partner with a leading, global chemical company in the manufacture of this innovative product. Being one of the only manufacturers across the globe capable of producing this product reflects our robust technology capabilities. It is even more heartening that this product, manufactured from recycled material, is more ecologically friendly and helps contributes to a more sustainable environment. The emphasis for our Specialty Polymer business will be to develop more products that offer unique value and are at the same time more socially friendly."
Ester Industries continues to be focused on innovating and launching new products from its manufacturing facilities in Khatima in Uttarakhand. The Specialty Polymer business already has a product portfolio of 18 products with 7 patents having been filed.
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About Ester Industries:
Ester Industries Limited is a public limited company incorporated in 1985 promoted by the Singhania family. The company is one of India's leading producers of Polyester Films, Engineering Plastics and Specialty Polymers having a track record of continually developing new and innovative products for customers across the globe. Ester Industries has state of the art manufacturing facilities in Khatima in Uttarakhand with the capacity of 67,000 TPA of Polyester Resin, 57,000 TPA of Polyester Film, 30,000TPA of Specialty Polymers and 16,500 TPA of Engineering Plastics. The company currently exports more than 30% of its production of Polyester Films with sales and distribution network in more than 56 countries across the world resulting in strong customer relationship. Specialty Polymers are manufactured primarily for the European and US markets.
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For more information contact:
Pradeep Kumar Rustagi (CFO) Gavin Desa / Suraj Digawalekar Ester Industries Ltd. CDR India Tel: +91 124 2656 100 Tel: +91 22 6645 1237 / 1219 Fax: +91 124 2656 199 Fax: +91 22 6645 1213 E-mail: [email protected] E-mail: [email protected]
CIN: L24111UR1985PLC015063
Regd. Office : Sohan Nagar, P.O. Charubeta, Khatima– 262308 Distt. Udham Singh Nagar, Uttarakhand Phone: EPABX No. (05943) 250153-57; Fax No.: (05943) 250158; Email: [email protected]; Website: www.esterindustries.com
