Sealed Air to double revenues in 3 yrs; mulls mfg in India

US-based packaging company Sealed Air Corporation is aiming to double revenue in India to Rs 1,200 crore in 3 years and is keen to tap into demand from sectors like e-retail and packaged food industry.
The company imports up to 80 per cent of products for this market and is considering setting up a plant in India to meet the growing demand.
"We should be close to Rs 600 crore (of revenue) this year in India. We would like to double it in three years," Sealed Air MD & VP South Asia & Indian Subcontinent Himanshu Jain told PTI.
When asked about the company's growth drivers, he said it will be from all segments.

The company has clients, including Coca Cola, Nestle, Yum Restaurants, Amul, Taj Group, Walmart, HUL, Dell, FedEx, Amazon and Flipkart. It is present in three business segments - food care, product care and 'Diversey' care.
Diversey care segment contributes around 50 per cent of its entire business here with products for infection prevention, kitchen hygiene, fabric care, building care and consulting.

Rest 30 per cent are contributed by food care and 20 per cent by product care.
"We need a 20 per cent plus growth to reach our target and fortunately we are growing over that. Our diversey care business is more mature in India," he said.

Besides, Sealed Air, known for its bubble wraps, is also considering to introduce its new iBubble Wrap in India seeking to tap the growing e-commerce business here.
"We are getting it but like any technology company, we take our time in validating it. We have got machines and testing it at sites... We may take couple of months to launch in the Indian market," said Jain.
Unlike the previous versions, iBubble wrap inflates the bubble on site and saves packaging space.
Presently bubble wraps contributes around 5 per cent share globally in Sealed Air's fold.
On the manufacturing unit, Jain said: "We have identified India and we are just looking at what, where and how. Investment is bound to come and the questions is in what shape and where".

Sealed Air manufactures up to 95 per cent chemicals in India. However, in packaging around 75 to 80 per cent is imported.
On being asked about the timeline for the manufacturing unit for its packaging needs, he said: "We have a plan that in next 2-3 years, we should have our one global manufacturing facilities in India. Its at very early stage and has not yet crytalised but we are working to identify an opportunity to manufacture and source".
Sealed Air Corporation is USD 7 billion company and has presence in 170 countries. It has direct presence in 70 countries and employs 24,000 globally.