Flexible packaging giant Uflex to invest Rs. 1,000 crore for expansion
The scope of flexible packaging industry is growing like never before. Exemplifying and boosting the growth of the industry is the market giant Uflex which is planning to invest Rs. 1,000 crore over the following two years. The company has plans on enhancing its capacity and adding more value to its flexible packaging product range spanning liquid and granular materials, as told by a top company official.
Uflex chairman and managing director Ashok Chaturvedi said during an interview, “As part of our growth plans, we propose to invest Rs.1,000 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 is based at Noida and works multinational with production plants in India, Dubai, Egypt, Mexico, Poland and the US and markets in 85 countries worldwide. Uflex makes polyester chips, plastic films, laminates, inks and adhesives for packaging liquid and solid goods.
Industry Council for Research and Packaging on the Environment (INCPEN) says that flexible packaging helps reduce food wastage to one percent from three percent by increasing its shelf life, especially of vegetables and dairy products.
The 32-year-old firm has plants at Noida in Uttar Pradesh near Delhi, Jammu and in Malanpur in Bhind district of Madhya Pradesh and is now setting up an aseptic plant at Sanand in Gujarat to pack liquid products at Rs.550 crore in first phase.
Chaturvedi added, “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.”
Uflex has many big names as its customers which span across 140 countries of the world. These include 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 has lately unveiled a range of inks, which are rub-scratch and crinkle resistance and offer good gloss and tape release.
Uflex has developed technology to reprocess mixed plastic waste arising from production process. The technology also reprocesses mixed plastic waste after customers refuse into articles for making durable plastic products.
Chaturvedi lamented that about 40 percent of food valued at Rs. 50,000 crore was wasted every year across the country for want of storage and packaging to protect and preserve. “We have the ability to be a part of the solution by offering innovative solutions to extend shelf-life of products and keep them safe for a longer period,” he claimed.
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