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Definition and development of functional barriers for the use of recycled materials in multilayer food packaging

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Constantia Flexibles expects Indian revenue to double by 2022

Austrian packaging firm Constantia Flexibles is aiming to double its sales in India within the next five years, through a number of substantial investments in the country.

This projected growth, said Constantia in a 30 April statement, is due to the company’s acquisition of a majority stake in India-based Creative Polypack and its group companies, in combination with plans for the expansion of its existing subsidiary, Parikh Packaging.

Through the acquisition, which was completed 27 April, Constantia Flexibles became India’s third largest flexible packaging group. Buoyed by market growth and ongoing investments, the company says it expects  to reach the €200m mark in 2022

A family-owned company that was founded in 1986, Creative Polypack Ltd is India’s fourth largest flexible packaging group.

It manufactures film-based flexible packaging for the food and home & personal care (HPC) industries, as well as paper-based soap wrappers. The company currently has a workforce of around 850 spread across eight production sites in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.

The company intends to invest on average €6m per year in new production capacity, as well as other infrastructure, at its sites in the coming years.

The company is also planning to double production capacity at the newly-established Assam site.

Prior to the acquisition of Creative Polypack, Constantia Flexibles was a supplier of film-based flexible packaging for the Indian market through its subsidiary Ahmedabad-based Parikh Packaging, which became part of Constantia in 2013.

Constantia said that Parikh Packaging is also investing INR100 crore (€12.5m) in a new greenfield site in Ahmedabad, which 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.

The new investment, said Constantia, will help major FMCGs to comply with upcoming Indian Plastic Waste Management (PWM) regulations that promote only fully recyclable flexible packaging.

According to the Vienna-based group, flexible packaging market in India is expected to grow by more than 10% in the next five years, driven by the urbanisation and the expansion of the retail sector.

“We are proud to be here in India today to announce our ambitious growth plans in the fastest growing flexible packaging market worldwide,” said Alexander Baumgartner, Constantia Flexibles CEO.

 

» Publication Date: 30/04/2018

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This project has received funding from the European Union’s Seventh Framework Programme for Research, technological development and demonstration (FP7/2007-2013) under grant agreement n° [606572].

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