Proplastics sets annual capex at $2,6 billion

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PIPING products manufacturer, Proplastics, has set annual capital spending at $2,6 billion despite reporting an 86 percent dip in its 2022 inflation adjusted profit. A total of US$2,7 million was spent by the group on capital equipment in the nine months ended September 30, 2022. This includes the newly-commissioned PVC line. The plant modernisation efforts…