The Board for Industrial and Financial Reconstruction (BIFR) has approved Essel Propack's proposal to Ras Propack Lamipack Ltd (RPLL) and Ras Extrusions Ltd (REL) with itself.
According to Ashok Goel, vice chairman and managing director of Essel Propack, "RPLL, REL are perennially sick companies, and the merger will assure these companies get oxygen to survive. Also, this will add 160 million tubes capacity, which ensures that Essel Propack is on growth path.
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