The Sunday Mail
Online Reporter
Listed plastics pipes and fitting manufacturer, Proplastics Limited says it will commission a new production line early next year.
The new production line manufacturers large bore PVC diameter pipes.
“The new PVC 500mm extrusion production line is expected at the end of the year, for commissioning in the first quarter of 2022,” said Proplastics chairman Mr Gregory Sebborn in a statement accompanying its half-year results to June 30, 2021.
“This new line will help address the demand for large bore PVC diameter pipes, which continues to grow and will increase production capacity.
Meanwhile, the group posted a good set of numbers for the half year period, with turnover increasing by 120 percent to $889 million from $404 million in the prior period on the back of a 71 percent increase in sales volumes.
Proplastics’ exports grew by 240 percent and contributed 11 percent of total turnover for the period under review.
The company’s profit for the six months period was $57 million compared to a loss of $58 million in the prior period.
