Paharpur-3P plans 1 bn investment in innovative packaging

Tuesday, 19 December 2006, 06:00 Hrs
Printer Print Email Email
New Delhi: Keeping abreast of global retail trends and customer demand, Paharpur-3P, the packaging solutions division of Paharpur Cooling Towers, is planning 1 billion worth of investments over the next five years in new machineries and technologies.

The company is also on the look out to acquire package-manufacturing units in different parts of the country and has almost zeroed in on one such company.

Spout pouches, laminated pouches with bottom fold, microwave-friendly package, bio-degradable package - the range is growing with companies like Paharpur-3P evolving customized solutions to reposition products in the market with an eye on customer convenience and extending shelf life of fresh produce, seeds, cereals, staples and processed food.

"We are in the process of investing in new technologies and machinery in an effort to bring in more relevant technologies to the retail trade as also export market," said Sujit Shome, director of Paharpur-3P.

The company will be shopping for new machineries and technology partners starting with China, South Korea, Taiwan, Europe and the US to raise its market share within India from 25 percent in the specialized packaging solutions.

Overall, Paharpur-3P estimates its market share in the 15 billion organized market for packaging solutions dominated by half a dozen major players to be 7 percent. Its turnover was 1.06 last year.

"This year we are expecting the turnover to reach 1.25 billion and in five years around 5 billion turnover," said Shome.

The company is "working on a five year rolling plan to invest around 800 million to 1 billion to acquire new technologies and machineries starting with a coater laminator that could cost 20-200 million", said Shome.

A high-end slitting machine for packaging products like condoms, high barrier multiple layer aluminium foil and special printing machines for food packages are some of the new acquisitions planned from overseas besides a few annually from within India.

Located in Sahibabad, an industrial zone on outskirts of Delhi, the company has been acquiring technologies from abroad as also equipment to meet its goal of moving up the profitable value added chain.

The company has another unit in Chennai that caters to the needs of customers in the southern region like Hindustan Lever Ltd (HLL).

On the technology front, the company has tied up with Perfotech of the Netherlands to provide competitive packaging solutions for food products and body care products.

It also has a tie up with US-based Dow Chemicals, a leading chemicals and plastics manufacturers, and Toyo - a leader in food grade packaging and inks.

With overseas technology solutions providers in tow, Paharpur 3P has an impressive line up of customers.

"Our expansion is going to be geared to meet the future needs of the Indian and overseas market demands," said Debabrata Deb, a senior vice president in charge of technology, innovation and international marketing.

With several awards in its portfolio for innovative packaging solutions, the company is working on providing better deals to housewives in ready-to-eat food packaging.
Source: IANS
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..