Flexible packaging major Uflex would invest Rs1,000 crore over the next two years to enhance capacity and add value to its products for wider applications spanning liquid and granular materials, a top company official said.
“As part of our growth plans, we propose to invest Rs1,000 crore in the next two years to expand capacity and product range for packaging semi-liquids and liquid materials and powder and granular materials,” Uflex chairman and managing director Ashok Chaturvedi told IANS in an e-mail interview.
The Noida-based multinational, with production plants in India, Dubai, Egypt, Mexico, Poland and the US and markets in 85 countries worldwide, makes polyester chips, plastic films, laminates, inks and adhesives for packaging liquid and solid goods.
“We are setting new plants and more assembly lines at new locations in India and overseas for making a range of new and value added products to our global customers,” Chaturvedi asserted.
Besides plants at Noida in Uttar Pradesh near Delhi, Jammu and in Malanpur in Bhind district of Madhya Pradesh, the 32-year-old firm is setting up an asceptic plant at Sanand in Gujarat to pack liquid products at Rs.550 crore in first phase.
“When fully commissioned in phases over the next two-three years, the Sanand plant will employ about 3,000 people and 90 percent of its production will be to meet domestic demand,” Chaturvedi noted.
Among its Indian and global customers across 140 countries are P&G, PepsiCo, Tata Global, Mondelez, l’ Oreal, Britannia, Haldiram, Amul, Kimberly Clark, Ferro Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca Cola, Wrigley and Johnson & Johnson.
The company recently unveiled a range of inks, which are rub-scratch and crinkle resistance and offer good gloss and tape release.
“Similarly, our innovative moisture proof bag (Flex SafePack) protects moisture from entering into cement and prevents loss by withstanding harsh conditions for longer shelf life,” Chaturvedi pointed out.