Material Information of Engro Polymer and Chemical Limited

Karachi, Engro Polymer and Chemical Limited informed Pakistan Stock Exchange that board of the company has approved the reliability enhancement and debottlenecking of its plants to increase its annual PVC production capacity to 195,000 tons. Further, the project is expected to be completed by December 2017 with an estimated capex of US $ 9 million which will be funded through internal cash generation. The company was set up in 1997 by the name of Engro Asahi Polymer and Chemical Ltd. It was a joint venture between Engro Chemical, Asahi Glass Company and Mitsubishi Corporation to set up a 100,000 ton capacity PVC plant at Port Qasim. The plant came into commercial operation in 1999. In 2006, Asahi Glass divested from the business and Engro Chemical acquired its shareholding. The name of the company was changed to Engro Polymer & Chemicals Limited. The registered office of the company is located in Karachi. Other than producing caustic soda, sodium hypochlorite, EDC and VCM, Engro Polymer & Chemicals Limited is also the manufacturer of PVC resin in Pakistan. The symbol “EPCL” is being used by the stock exchange for the shares of Engro Polymer and Chemicals Limited.