Financial Daily from THE HINDU group of publications
Friday, Dec 03, 2004
Financial Daily from THE HINDU group of publications Friday, Dec 03, 2004 |
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Corporate
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Outlook Aluflouride plans to repay debts Our Bureau
Visakhapatnam , Dec. 2 ALUFLOURIDE Ltd, a local unit manufacturing aluminium flouride used in smelters, is planning to wipe out its debts within a couple of years and then diversify into related chemicals, according to Mr V.S. Prasad, its Managing Director. He said in an interview here on Thursday that it was one of the four companies in the country manufacturing the chemical and the only one in the State. "It is an eco-friendly company set up in the nineties with Rs 10 crore lent by the ICICI and the IDBI, besides Rs 10 crore of my own funds and those raised from the public through an IPO,'' he said. He said Coromandel Fertilisers (CFL) here was generating hydrofluosilicic acid at its phosphoric fertiliser complex and it was being pumped out as waste into the effluent treatment plant. "I approached CFL for allowing me to set up the plant for manufacture of aluflouride by treating the waste. Today, our plant employs over 100 people and it has the distinction of obtaining ISO-9000, ISO-14001 and OHSAS 18001,'' he said. The plant produces over 6,000 tonnes of aluflouride for the domestic market and 1,000 tonnes for export. "We would like to diversify into other related chemicals but my first priority is to wipe out the debt in a couple of years and declare dividend for the investors,'' he said.
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