This is further to the Company's press release dated May 26, 2021 and August 11, 2021 announcing Company's plan of entering into the manufacturing of small packaging products (50 ml to 10 ltr) as Value Added Products.
We are pleased to announce that the Company has successfully completed the Project (Phase-I) in Silvassa, UT (western region) for manufacturing of small packaging products (50 ml to 10 ltr) as Value Added Products. The project got completed as per schedule and the Company has started commercial operations from this unit starting October 2021. The Company initially will serve its existing customers in the segment of Chemicals, Pharma, FMCG, Food etc.
Growth in the Chemicals industry including Specialty Chemicals and Pharmaceuticals has been driving the demand for packaging products around the world. The company expects growth opportunity to emerge for India given the shift of chemical manufacturing base from China to other Asian countries including India.