The consolidation includes takeover of Deep Plast to streamline the overall management of the company’s offerings
February 3: Deep Polymers, a Specialty Chemicals manufacturing company listed on the BSE Main Board and headquartered in Ahmedabad aims at improving its organizational efficiency by consolidating different ventures under a single umbrella. This includestake-over of Deep Plast, a former independent venture dealing in masterbatches and plastic fillers.
The seed of the company that now manufactures over 12,000 MT of Color Masterbatches and over 25,000 MT of Filler Masterbatches was planted in 1992 by Mr. Rameshbhai Patel. Over the course of 25 years, Mr. Patel is focused on growing his business and in FY 2003-04 the production grew to 6,000 MT per annum. In 2005, Deep Polymers Pvt. Ltd. was established. By FY 2008-09, the company’s production quantity shot up to 16,000 MT per annum. After becoming a member of the Plastics Export Promotion Council in 2016, the company was finally listed on BSE SME in 2018 and shifted to the Main Board in 2021.
At present, the company deals with the manufacturing of white masterbatches, black masterbatches, colored masterbatches, UV masterbatches, plastic additives, and antifab fillers. The fillers produced by the company include white fillers, super brightener fillers, colored tinge fillers, and natural fillers.
The management at Deep Polymers is willing to simplify the group structure to focus on each unit effectively and in a centralized manner. Mr. Rameshbhai Patel, the founder and CEO of Deep Polymers believes that the takeover would help the company reach new heights. He says, “Efficient management is the key to thriving in a market as dynamic as India. By bringing multiple initiatives under centralized management, we aim at expanding our horizons and solidifying our offerings. We are also looking forward to diversifying and entering into new markets to leverage the expertise of our team.”
Along with manufacturing masterbatches, additives, and fillers, Deep Polymers aims at diversifying its venture by manufacturing and processing PET fibers. The company has reportedly ordered twin-screw compounding devices from Germany to start production soon. The advanced equipment would be used by Deep Polymers for producing PBT/PET optical fiber, polyester sheets, polyester automotive, and PBT/PET bottles.
Vaishnavi Prakash
