The Travancore Plywood Industries was established during the year 1962 with its head quarters at Punalur. The intention of establishing the company was to produce quality plywood from the wood available from the rich forest of southern Kerala. Now the activities of the company has almost been stopped and the company is now offered for disinvestment. At present, there are 219 number of labourers and 83 supervisory staff. The annual turn over now is about Rs.30 lakhs.