Kolkata: On the silver jubilee of MCPI Pvt Ltd, its chairman, Purnendu Chatterjee said that to navigate the evolving global competitive landscape and address the declining margins in the Purified Terephthalic Acid (PTA) business, the company has pursued a bold strategy of forward integration.
An issued statement read that the acquisition of Garden Silk Mills in February 2021 marked a pivotal step, strengthening the company’s position in the synthetic fibers market. This success paved the way for a joint venture with Indian Oil Corporation to establish a state-of-the-art facility in Odisha. “This integrated value chain — spanning PTA production, synthetic fibers through Garden Silk Mills and the Odisha plant, and a robust B2C presence with Garden Vareli — positions MCPI for long- term success.
Our B2C initiatives will further expand through dedicated subsidiaries, ensuring MCPI remains a formidable player in the industry. This strategic framework is designed to make MCPI a resilient, future-ready organisation built to last,” read the statement.
Chatterjee’s statement claimed: “Since the transition in 2016, our Indian team has driven remarkable growth in production, sales, customer satisfaction and Environmental, Social, and Governance (ESG) performance. Notably, our safety record remains unmatched in the industry, reflecting our relentless focus on excellence,” it read. It was highlighted that the company played a significant role in generating employment and creating opportunities in Bengal, particularly through its efforts in scaling the PET (Polyethylene Terephthalate) and polyester yarn segments.
MCPI has leveraged its strategic location in Haldia and is taking forward integration initiatives to drive economic growth in the region.