The flexible packaging market giant Uflex is growing and diversifying which goes hand in hand with the overall growth of the packaging industry. Uflex is a packaging brand which has top notch brands as its clientele. The company is now planning to invest Rs. 1,000 crore over the following two years to expand its operations.
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 that as part of their growth plans, the company has proposed 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.