Since, and unfortunately, multi-threading is not available in PHP I went on a search for find a solution to create multiple threads of an application. After various queries on Google I found an optimal solution to my problem.
Working on PHP 5.3, I can easily create as many forks of my application as I need. Simply great for scripts which generate large amounts of data or need to process large amounts of data.
Note that if you're running the script from the command line and need to stop it, ^Z just won't cut it. You'll need to use pkill -9 php to completely stop PHP. This is because forks will keep being created and stopping one process just isn't enough.
As this script uses the pnctl_fork() function, it will only work under Unix systems.