Astral Poly Technik begins production of plastic water storage tanks at Aurangabad facility
Astral Poly Technik has achieved commercial production of plastic water storage tanks at its manufacturing facility in Aurangabad in the western Indian state of Maharashtra.
The Indian plastic products manufacturer, in a filing to the Bombay Stock Exchange (BSE), stated: “The company has started commercial production of plastic water storage tanks under Astral’s name from today at manufacturing facility situated at Gut No. 127, Village: Pangra, Taluka: Paithan, Dist: Aurangabad.”
It can be noted that the board of directors of Astral Poly Technik had approved the company’s decision last month to invest about INR 75 million ($10.18 million) to foray into the business of manufacturing and selling of plastic water storage tanks.
Astral Poly Technik also entered into a framework agreement to acquire certain assets from Shree Prabhu Petrochemicals and other parties in Aurangabad, Maharashtra. The assets include land, building, stock, machineries, and trademark and goodwill, among others.