MPL Plastics Ltd, originally Milton Plastics Ltd, was established in 1972 and became a public company in 1992. Based in Silvassa, the company was known for manufacturing a wide array of plastic household items, thermoware, automotive components, and engineering products under the Milton brand. Notably, MPL Plastics pioneered the thermoware segment in India. Despite its innovative products and a joint venture with a Hong Kong-based company in 1995, MPL Plastics has ceased operations due to undisclosed challenges.
The company expanded its product line in 1999 to include microwavable containers, non-stick ware, water purification systems, and more. However, it eventually closed non-core activities like polymer trading and leasing. In 2001-02, MPL Plastics' net worth was fully eroded, prompting a reference to the Board for Industrial and Financial Reconstruction (BIFR). A preferential share issue to Sweet Solutions Limited increased the promoters' stake by 26%. Despite its past contributions, the company's halted operations present a significant concern for potential investors.
