Hi Technological Plastic Industries PLC: Hi Technological Plastic Industries PLC has more orders than it can fulfil
London, July 16, 2018 - Hi Technological Plastic Industries PLC is pleased to announce, that the Company continues the growth, and that it receives more orders, than it can fulfill, hence it has to decline several orders.
This shows greatly, that the Company is well recognized and trusted by its clients, but also that it's a great necessity to expand production. The coming listing on the European Stock Exchange is therefore the vital step to raise the much-needed capital to achieve further growth.
"We are pleased that our Clients has so much trust in Hi Technological Plastic Industries PLC, that the orders continue in an accelerated level. Due to the boom in construction in Dubai for the completion of massive facilities for the "World Trade Fair 2020" our orders for electrical pipes, UPVC, PVC drainage pipes have increased by 30%. It is important we continue raising capital to procure raw material and working capital. We look optimistic on the situation, as the listing process will soon be completed and the shortly afterwards the expansion of the production facility can complete", said Shahid Akram, Director of Operations.
About Hi Technological Plastic Industries PLC is the holding company of the operational Hi Technological Plastic Industries LLC based in UAE since 2013 and is in the business of manufacturing LDPE recycling Granule, HDPE/LDPE & PVC Pipe with a capacity of 300 metric tons. UAE is the main market for the products, but the products are also exported worldwide, where the main export markets are Pakistan, India, China, Hong Kong and East African countries. In 2017 the company had a revenue of Euro 14.324.556 and a gross profit of Euro 2.277.813.
16.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de