– To invest INR 100 crore in the expansion of production capacity at Parikh Packaging, Ahmedabad.
Constantia Flexibles is investing a double-digit million euro (INR 100 crore) amount in the expansion of production capacity at its Indian subsidiary Parikh Packaging, in Ahmedabad, Gujarat. The announcement was made during the PLASTINDIA trade fair held in Gandhinagar, February 7-12.
The company already broke ground in mid-2017, on a new greenfield site close to existing production at Parikh. The site is currently under construction and meets the highest international environmental, hygiene and work safety standards. It will be home to a polyethylene blown film extruder, high-definition Flexo printing press and laminators that will produce high barrier laminates that can be fully recycled.
The extra capacity will come on stream in 2019 and will serve the growing demand from leading multinationals in the food and home and personal care (HPC) industries in India. The flexible packaging market in India is expected to show double-digit growth in the mid-term, driven by the megatrend urbanization and the expansion of the retail sector.
“Our investment strengthens Parikh Packaging’s credentials as a leading provider of innovation and service to customers in the Indian subcontinent,” said Stefan Grote, Executive Vice President of the Food division at Constantia Flexibles. “Major FMCGs are demanding the highest level of sustainability for their packaging material and they will have to comply with upcoming Indian Plastic Waste Management (PWM) regulations that promote only fully recyclable flexible packaging.”
Parikh Packaging has been part of Constantia Flexibles since 2013 and already has a production unit in Ahmedabad, including rotogravure printing machines, PE extruders, various lamination technologies and pouch making. It is fully ISO-certified and serves with more than 500 qualified employees the domestic and global Food and HPC markets.
Constantia Flexibles is the world’s fourth largest producer of flexible packaging. Based on the guiding principle of ‘People, Passion, Packaging’, some 7,400 employees manufacture tailor-made packaging solutions at 32 sites in 18 countries. Many international companies and local market leaders from the food and pharma industries choose the sustainable and innovative products of Constantia Flexibles.