National Polymer Industries Ltd has decided to establish a subsidiary company that would be engaged in imports, exports and trading.

The board of directors of the plastic manufacturer has decided to establish NPOLY Trading Ltd, according to a filing on the Dhaka Stock Exchange today.

The authorised capital of the subsidiary company will be Tk 10 crore and the paid-up capital will be Tk 10 lakh.

The percentage of holding of the company will be 99 per cent of the subsidiary company and the source of funds will be from the normal course of business.

National Polymer Industries makes unplasticised polyvinyl chloride (uPVC), polypropylene-random polymer (PP-R), chlorinated polyvinyl chloride (CPVC) pipes and fittings, PVC doors, sheet, ceiling, and plastic household and furniture products.