Polyplex Corp restructuring of subsidiaries

Polyplex Corporation Ltd has informed BSE that the Company has sold / transferred its minority stake in its step down subsidiary viz. Polyplex (Americas) Inc., USA (Marketing Company) to another subsidiary viz. Polyplex (Thailand) Public Company Limited, Thailand with effective date being January 31, 2013.Further, with the above sale / transfer of shares, Polyplex (Americas) Inc., USA having become wholly owned subsidiary of Polyplex (Thailand) Public Company Limited, Thailand, has merged with another step down subsidiary viz. Polyplex USA LLC, Alabama, USA, which is implementing project to manufacture PET Film and PET Chips at Alabama. Effective date of merger is January 31, 2013.Source : BSE

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