Interplast, a leading UAE manufacturer of electrical plastic products, has won a Dh30 million ($8.16 million) loan to help the company restructure its business.

The loan was granted by the Emirates Industrial Bank (EIB), which also has a stake in the Sharjah-based manufacturer.

"The loan, which is the third in the company's 22-year history, will help restructure its finances and meet its goal of Dh300 million in sales by 2005 up from Dh200 million in the current year," said a spokesman for Interplast.

"The management and partners are grateful to EIB for its continued patronage, expressed in its granting of the loan, and for its confidence in the company's business plans," he added.

Interplast manufactures a wide range of products for the electrical, building and food industries under five distinct business lines: electrical products, plastic compounds, thermoformed products, flexible packaging materials and home improvement products.

Its electrical installation products are marketed under the trade names IP Edison (wiring accessories), IP Decoduct (cable management systems) and IP Intergard (cable protection systems).

"These products meet BS, Gulf and Saso standards and are covered by an ISO9001 quality management system certified by ASTA of the UK," the spokesman says. "Interplast has also recently won Saudi Aramco approval for its quality electrical products."

Its multi-use plastic compounds are sold under the trade name IP Harwal, while its thermoformed products (plastic cups and containers) go by the name of IP Decoform.

Flexible packaging materials for food and other industries is marketed under the IP Decopack brand. The latter includes a section for the production of plastic and paper luxury shopping bags for upper end department stores and boutiques. The home improvement products, marketed under the Duramax brand, include plastic storage sheds as well as housing and outdoor systems for barns, garages, stores, enclosed playgrounds and fences.

Interplast's export market covers more than 48 countries worldwide and its subsidiaries in Saudi Arabia, the UK and France, as well as associate companies in the US and in Europe, give it an international status. Its comprehensive five product ranges allow it to penetrate export markets and compete on a global level with International players in the specific fields that it is in.