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Mold-Tek Packaging to inaugurate 9th manufacturing plant at Vizag

Capital Market 

Mold-Tek Packaging is inaugurating its 9th Manufacturing Plant at Pudi (Vizag) on 24 February 2019 mainly to cater to the plastic packaging containers requirement of Asian Paints and clients in the East.

Mold-Tek has already inaugurated its 8th manufacturing plant at Mysore on 07 February 2019 to supply plastic packaging containers mainly to Asian Paints, Mysore plant requirements and Mondelez.

Each plant initial production capacity is 3000 Mts per annum and it may reach to 7000 Mts per annum by 2022-23.

At present peak capacity, these plants can add Rs. 120 crore to the top line.

Company's initial investment is around Rs. 25.00 crore on each plant.

Both plants will be equipped with world class Injection Molding Machines and Robotic IML decoration apart from HTL and screen printing equipment.

Both plants commercial production is expected from 01 March 2019 and considerable revenues from these plants shall accrue from April, 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 22 2019. 19:22 IST
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