|Zenith Fibres Limited (ZFL) was incorporated on 12th December, 1989, as a public limited company. In January 1993 it set up its manufacturing unit at Savil near Baroda, Gujarat to manufacture Polypropylene Staple Fibre (PPSF) with a capacity of 1,000 tpa.
The 1,000 tpa PPSF capacity was set up at a total cost of Rs.6.60 crores. This project was funded by a Foreign Currency Loan of Rs. 1.92 crores from ICICI, Rs. 1.68 crores from IDBI and a issue of Equity Shares aggregating Rs.3 crores. Out of this Equity Issue, a public issue of Rs.1 crore was made in March, 1993.
MAIN OBJECTS OF THE COMPANY
The main object of the Company as set out in its Memorandum of Association are:
To manufacture, process, buy, sell, import, export, hire, exchange, alter or improve or otherwise deal in all kinds of synthetic fibres, filaments and fabrics including polypropylene, polyester, nylon and acrylic.
Over the years, focus on Research & Development has seen the Company innovate applications for PPSF substituting conventional material like nylon, acrylic and polyester staple fibre. The company through its research and development has for the first time introduced applications
for PPSF and PPSY. No other company in India, manufacturing PPSF or PPSY is selling its products to the hosiery, socks, fleece fabrics and sanitary fabric sectors.
ZFL manufactures PPSF ranging from 1.5 deniers to 15 deniers. It caters to market for the niche range of PPSF below 3 deniers. The Company has been operating at high levels of capacity utilisation. An 84% utilisation was achieved for 1994-95.
- Zenith Fibres Ltd has has appointed Mr. Rajeev Rungta as additional director of the Company.