Essel Propack to seek BIFR cover for RAS Propack Lamipack and RAS Extrusions

Mumbai: Essel Propack Ltd along with the promoters of RAS Group will file a rehabilitation package with BIFR for the group's two companies, namely RAS Propack Lamipack Ltd (RPL) and RAS Extrusions Ltd (REL).

"The rehabilitation proposal has already been worked out jointly with the management of the RAS Group. This proposal is in the process of being filed with BIFR. Subject to the approval of our proposal by BIFR, we will announce the details as we go forward," Ashok Goel, vice chairman and managing director of Essel Propack, said.

Regarding Ras Propack Lamipack and RAS Extrusions, Ashok Goel said, "The technology platform adopted by RPL and REL is the same as that adopted by Essel Propack. This will be a great advantage while integrating the organisation and will further enhance our capabilities at the market place."

RPL and REL are in the same line of business as the companies manufacture laminated tubes and laminates respectively. This move will give the company access to further capacities for tubes and laminate other than consolidation of capacities in the domestic market. In due course, the operation of RAS Propack Lamipack & RAS Extrusions may be integrated with the operations of the company.

REL manufactures multilayered laminates used for the manufacturing of laminated tubes. REL has its manufacturing facility at Chakan in Pune. The company's customers include multinationals operating in India.

REL has entered into long-term arrangements for supply of laminates with RPL. Besides REL also exports laminates to Iran, Sri Lanka and other countries.

RPL's laminated tubes are used in industries such as oral care (dentifrice tooth paste), pharmaceutical, cosmetics, adhesive etc.