Uflex Ltd to Invest Rs. 1800 crore in expansion

Leading flexible packaging company Uflex is investing Rs 1,800 crore (about $284 million) to grow its output and add new products as demand for packaging material rises in India amid changing retail patterns.

The Noida-headquartered company will invest Rs 550 crore in setting up a plant in Sanand, Gujarat, to make packaging materials for liquid products. R.K. Jain, Uflex Ltd's group president for corporate finance and accounts, said land has been acquired for the facility, which will be operational in April 2017 and employ about 800 people. 

The Gujarat factory will produce seven billion packs per year for liquid products such as energy drinks, milk and juices, and about 90 per cent of the output will be used for the domestic market, Jain told BW Businessworld in an interview. Uflex manufactures both packaging materials and equipment and is a market leader in India in the segment. A big chunk of its supplies goes to the food and beverage industry. Uflex has manufacturing facilities in Noida in Uttar Pradesh, Malanpur in Madhya Pradesh and in Jammu. Overseas facilities are located in Dubai, Egypt, Mexico, Poland and North America. Jain said the company is growing its overseas business as well.

"We are becoming an emerging player in the international market. We have a sales network in 140 countries," he said, adding that the company's revenues are evenly divided between domestic and overseas markets. The company employs 7,500 people, of whom 6,300 work in India. - See more at: cdn.bwbusinessworld.com/companies-markets-sector-reports/uflex-invest-rs-1800-crore-expansion-new-gujarat-plant

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