Promoted by Apollo Tyres of the Raunaq group, the Gujarat Industrial Investment Corporation (GIIC) and Perstorp, Sweden, Gujarat Perstorp Electroniks (GPEL) manufactures and markets copper-clad laminates (CCL). Perstorp also provides technical know-how to enable the company to meet international quality standards. The company's manufacturing unit at the GIDC Electronics Estate, Gandhinagar, Gujarat, commenced commercial production in Oct.'93. It came out with a public issue in Jan.'94 to part-finance this project. The collaboration agreement with Perstorp provides for buy-back of 20% of the company's production. CCL is the base material for electronic products. GPEL is the only manufacturer in India represented in both the paper phenolic copper laminates (PPCL) and glass epoxy copper laminates (GECL) segments with foreign collaboration. During the year 1998-99, the Company has been awarded ISO 9002 certification by American Quality Assessors for manufacture of Copper Clad Laminate for printed circuit boards. The company has been registered as a Sick Company by BIFR during August, 1997 and has IDBI was appointed as "Operating Agency" for the revival of the company.