FIPCO launches commercial operations of its subsidiary
Filing & Packaging Material Manufacturing Co. (FIPCO) has launched commercial operations of its subsidiary, FBC Industries Co., today, the company said in a bourse statement.
The step followed the successful testing of machines and production lines, validation of all operational and non-operational aspects and successful testing of plant equipment, the statement added.
FIPCO will continue its commercial production process gradually according to the operating requirements and in accordance with the desired quality standards, taking into account the operating ratios will increase in line with the local and international market situations and fluctuations.
The commercial start-up will positively affect the company's financial results starting from the second quarter of 2019, making it difficult to determine the financial impact for the time being, due to supply and demand circumstances, the company added.
The new project produces products that can be used in the manufacture of tents, umbrellas, curtains, isolators, handrails, billboards, truck covers, tarpaulins, technical textiles for roofs architectures, stadiums and commercial malls, it also can be used in the construction and contracting sectors.