Constantia Flexibles is pumping in a double-digit million Euro, INR 100-crore in its Indian subsidiary Ahmedabad-based Parikh Packaging in Gujarat. The flexible packaging specialist made the announcement during the recently concluded PlastIndia show in Gandhinagar, the capital of Gujarat.
To be built on a new Greenfield site close to Parikh’s existing production site, Constantia broke ground in mid-2017. The site is currently under construction and, Constantia said that the new plant will meet the highest international environmental, hygiene and work safety standards, 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.
“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. “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.”
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.
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, employs some 7,400 people at 32 sites in 18 countries.