The Company was incorporated on 24th October, 1955 at Bombay.The
 Company manufactures styrene, polystyrene, vinyl chloride, polyvinyl
 chloride, polyethylene, cellulose, plastics, thermosetting plastics,
 thermoplastic materials and other chemical products.  The products
 are marketed under the trade names `STYRON',`POLYSTYRENE' and
 `POLYNITF'.
 
 With a view of diversification, the Company proposed to enter into
 the electronic components field by promoting a new company.
 
 In 1983-84, the Company received approval of Government for
 modernising polysterene plant.
 
 Use of Dow trade mark STYRON for polystyrene formulations was
 discontinued with effect from 1st September, 1978 and polystyrene
 material was included in the trademark of POLYSTRON.
 
 The Company entered into a collaboration agreement with Dow Chemical
 A.G., West Germany.
 
 After receiving approval of the concerned authorities, as on 27th
 May, 1987, Dow Chemical AG, diverted their entire holding of 9,00,000
 equity shares in Polychem Ltd.