Southern Latex Ltd Share Price

(514454)

Souther Latex was incorporated in March 1989 as a private limited company and converted into a public limited company four years later. The original intention was to manufacture latex examination gloves, but after the global market crashed the business changed its direction to rubberised coir products. In November 1992, Souther Latex started commercial production with a capacity of 90,000 mattresses per year. The company secured a public issue in September 1994 to expand its production to 180,000 mattresses per year and to install latex creaming plants in Cumbum and Thalakkudi Tirunelveli district. Souther Latex is now diversifying into latex threads, spring beds, and centrifugal latex creaming plant. These new plants were fully operational in 1995-1996 and will greatly help in reducing the cost of production. The company has also submitted a proposal to expand their working capital and is in the process of being approved.