Ess Dee Aluminium completes first phase of world-class packing facility at Daman

Ess Dee Aluminium Ltd has announced that the Company has successfully completed the first phase of implementation of its world-class packing facility being built at Daman. The project was kicked off in October 2006.

The project has made rapid strides on all implementation fronts including physical progress at the site and has achieved several key milestones during the first six months immediately after the IPO. Significant accomplishments since the project kick-off include the following:

- The equity financing of the project was completed through a highly successful IPO.

- Basic engineering and major civil engineering is complete.

- Construction work at site is nearing completion.

- The fast track implementation of the project has led to substantial change in the Product mix which the Company can offer. The Imported Italian Extruders, The Italian Laminators, 9 Color Cerruti printing machine has poised the Company to offer various foil based laminates.

- In house Cylinder making facility imported from Switzerland has given the Company edge in crushing lead times to develop new designs for customers.

- State of the Art Laboratory has given the Company capability to take R&D initiatives and is equipped with instruments like FTIR / Spectrophotometers, Water Vapour & Oxygen Transmission Rate Testers and many other.

- The Second mill was commissioned in record time.

- The Third mill which was scheduled to be commercialized by July, 2007 will be installed by September, 2007 due to Monsoon related delays.

- All the Specialized Raw Materials have been imported and lined up to give kick start to commercial production of various Laminates.

Commenting on the progress Mr. Sudip Dutta, Chairman & Managing Director of the Company said, "I am extremely happy with the rapid progress made by Ess Dee Project teams. The substantial progress achieved at site gives me further confidence that the Company is poised for growth and can take new challenges to achieve such performance at all new sites, as the Company shall be Globe Trotting at various destinations world over. The Company is positioned to capitalise on the emerging opportunities in the Packaging sector and create superior value for its shareholders".

Source : Equity Bulls

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