KARACHI: The Karachi-based project of Synthetic Products Enterprises Limited (SPEL’s Karachi plant) has commenced commercial operations, a statement issued by the company said on Monday.
The company already operates three plants; one in Kot Lakhpat and two in Pandoki, Lahore, it added.
“The company is on the path of steady growth. Manufacturing facilities are being expanded, investments are being made to achieve efficiency and improve profitability,” SPEL CEO Zia Hyder Naqi noted in the financial report.
SPEL had earmarked Rs 224 million as a capital investment last year for the project, to be financed through new equity of 4.5 per cent right shares and internal generation.
“The human resource is sufficiently trained to manage this growth. A detailed training plan has been prepared for further strengthening the capabilities of employees to cater to future growth.”
Synthetic Products Enterprises Limited is one of the leading manufacturers of technology-intensive engineering and plastic products in Pakistan.
It is a manufacturing company and has B2B (Business-to-Business) relations with most of its customers. It is principally engaged in the manufacturing and sale of plastic parts for the automotive industry, plastic packaging for food and FMCG industry, and moulds and dyes.
The major products for the food and FMCG industry included 19 litres water bottles, shampoo bottles, crates for beverages, yoghurt cups, plastic glasses, and disposable containers. Auto parts include door trims, door handles, steering wheels, etc, the statement said.
SPEL’s major customers in the auto sector included Toyota, Honda, Suzuki, Massey Ferguson and Nestle, Unilever, Coca Cola, Pepsi, KFC, Colgate Palmolive and some overseas customers in the FMCG sector, it added.
(SPEL’s Karachi plant)