Integrated Thermoplastics Share price

Incorporated in the State of Andhra Pradesh as TORRENTTHERMO-PLASTICS LIMITED on 25th January 1994 as a PrivateLimited Company under the Companies Act 1956 andthereafter converted into a Public Limited Company on 26thMay 1994 in terms of the special resolution dated 28.01.94under Section 31(1)144 of the Companies Act 1956. Thename of the company was changed to INTEGRATEDTHERMOPLASTICS LIMITED as per fresh Certificate ofIncorporation dated 5th August 1994.The company has been formed with the object ofmanufacturing and dealing in thermoplastics and alliedproducts.The company has been promoted by Mr.Simon Joseph andMr.S.V.Raghu. The promoters have experience in themanufacture and marketing of thermoplastic and alliedproducts. Having observed the growing potential forthermoplastic pipes of different compositions and fordifferent applications they decided to promote thiscompany to manufacture and market HDPE PP PVC and CPVCpipes.The company has entered into a technical collaboration withTRANSUPREME PLASTICS INTERNATIONAL (TPI) agents of theplastic multinational BF GOODRICH INC. USA.As per the agreement TPI shall provide technical knowbowand CPVC resins for the manufacture of CPVC pipes to beintroduced in India for the first time. TPI who haveagreed to participate in the equity of 1TL to the tune ofRs. 20 lacs and have also nominated their Managing DirectorShri Celestine Vettical to the Board of ITL shall buy back50% of ITL''s total production.