Pil Italica Lifestyle Ltd - (PILITA)
Established to manufacture plastic moulded industrial and household articles, Peacock Industries(PIL) entered the capital market in Dec.92. The merger of five group companies made it a multi-divisional and multi-product company manufacturing HDPE/PP woven fabrics and sacks, MS/CR sheet drums and barrels and LDPE/LLDPE film rolls and bags.Its moulded product range includes furniture (chairs, tables, trolleys, sun loungers, etc), crates for milk pouches, ghee pouches, soft drinks, etc, pallets (for shipping line, material handling, loading and unloading), heavy-duty storage bins, houseware, kitchenware, tableware, etc, sold under the Peacock and Italica brands. In 1994-95, it implemented an expansion scheme, fully financed by internal accruals and institutional loans, to increase the capacities of all the products. It envisages a foray into high-value-added articles such as toys, moulded and soft luggage, PET/PVC bottles, whiteline appliances, computer bodies, moulded beds, etc, besides a further expansion in manufacturing facilities. Due to erosion of Networth the company has filed its reference to BIFR and Board has declared sick and IDBI has been appointed as operating agency.
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