Mold-Tek Packaging charts Rs 30 cr spread

Hyderabad-based rigid plastic packaging products manufacturer, Mold-Tek Packaging Limited, today said that it was contemplating establishing two more plants – one in north India near Dehradun and the other in Dubai – at a total investment of around Rs 30 crore next year.

The company currently operates six manufacturing plants with an installed capacity of 20,000 tonne, while the new plants are expected to add 3,000 tonne capacity each to keep pace with the growing orders and also marking the first overseas foray. Its fifth plant, which was exclusively built for Asian Paints at Satara in Maharashtra with an investment of Rs 12 crore, had started operations in April this year.

Mold-Tek chairman and managing director J Laxman Rao said the capacity expansion was proposed in line with an anticipated 20-23 per cent growth for the next two-three years in addition to catering to the immediate commitments.

The company plans to set up a plant in Dubai keeping in view an order already in hand from a yogurt maker and the likely orders expected from a leading ice-cream maker among others, according to him. Mold-Tek expects to touch the Rs 260-crore revenue mark this financial year as compared to Rs 215 crore last year.

The company has developed In-Mold-Label (IML) decoration of the containers using robotics to eliminate human contact during the manufacturing process and for superior print quality, according to him.