| The Company was incorporated on 29th June 1964 as "The Andhra Pradesh Paper Mills Ltd." at Rajahmundry. The Certificate of Commencement of business was obtained on 10th July 1964.
The Andhra Pradesh Paper Mills Ltd. was formed with infusion of funds and high calibre management of the well-known industrial house of Bangurs of Calcutta, who have interests in textile manufacturing, tea plantation, wind energy generation and trading and investment business other than paper. In 2001, Coastal Papers Ltd was taken over by the company. The production capacity of both the units put together is 1,74,000 TPA. There are eight paper machines installed at the two locations which produce papers of different M.F & M.G varieties in the range of 21 to 250 GSM as well as newsprint. With the commissioning of largest continuous digester in the country, the total bleached pulp production at APPM (Unit Rajahmundry) is 1,81,500 TPA. The paper production capacity will increase to 2,41,000 TPA after commissioning of 67000 TPA paper machine which is undererection.
Pursuant to Share Purchase Agreement dated 29th March, 2011 entered into with erstwhile Promoters and Letter of Offer relating to Open Offer dated 24th August, 2011 made to the Public shareholders, 2,98,27,529 equity shares of Rs.10/- each (representing 75% of the paid up equity share capital) of the Company were acquired by IP Holding Asia Singapore Pte. Ltd. on 14th October, 2011 being the effective date of change in the promoters.
Pursuant to such acquisition, IP Holding Asia Singapore Pte Ltd. became the Holding Company of The Andhra Pradesh Paper Mills Ltd. with International Paper Company being the ultimate holding company.
The company provides direct employment to over 4000 families. Moreover, the company provides livelihood to over 10,000 families through indirect job opportunities. |
