Kalptaru Papers Ltd

Kalptaru Papers Ltd has informed that the Company has entered into a Memorandum of Understanding (MOU) with Shree Satpuda Tapi Parisar Sahakari Sakhar Karkhana Ltd, Purushottamnagar, Taluka: Shahada, Dist: Nandurbar, Maharashtra to run their 100 TDP Bagasse based integrated Pulp and Paper plant on lease basis for ten years. Paper plant previously known as Satpuda Papers was producing very good quality of writing and printing paper.

Further the Company has informed that, production at the leased premises will start on or before December 31, 2007. A team of approximately 200 employees is working around the Clock to Commerce the operation with in the set deadlines. With the present set up it will be able to produce Approx 30,000 Tons of good quality of Printing and Writing paper annually.

The Company has also purchased one Tissue Paper Machine with production capacity of 35 TPD of 16 GSM paper from CAN AM MACHINERY INCM USA. The Tissue paper machine is installed at Safcom Paper Mill in Quebec city Canada. This will manufacture quality Tissue Paper and One Time Carbon (OTC) papers having huge demand in local as well as overseas market. Machine will be commissioned and installed and production will Commence by March-2008.

With these acquition, Company expect to achieve Turnover of Apprx.150 Cores during the financial year 2008-2009.