Piramal Glass has announced that it intends to invest INR 2.6 billion (USD 57 million) over the next two years, including INR 1 billion (USD 22 million) for expansion of capacities at its plant in the…
Piramal Glass has announced that it intends to invest INR 2.6 billion (USD 57 million) over the next two years, including INR 1 billion (USD 22 million) for expansion of capacities at its plant in the Indian state of Gujarat. The India-based manufacturer of glass containers said it plans to add 160 tonnes per day capacity through a greenfield project, which is likely to be completed by 2012 financial year. The company has also proposed to transfer 75 tonnes of its current capacity in the pharmaceutical segment to the cosmetics & perfumery (C&P) business. Piramal Glass managing director Vijay Shah said the company is concentrating its focus on high margin premium segment of C&P, which will better overall margins. Our unique product-mix with a focus on C&P is driving our growth and overall profits. We will continue with this growth momentum and we are sure that the proposed expansion would help us end the year on a high, Shah said. The company expects the growth of C&P business to touch 60% of the total sales over next two years.