Uflex to invest Rs 1,150 cr on capacity expansion
Dubai, June 29 (PTI) Indian flexible packaging firm Uflex Ltd, will invest over USD 250 million (about Rs 1150 crore) in the next two years to enhance output from its manufacturing plants.
“In the coming two years, there will be an investment of USD 250 million to increase production at our plants in Mexico, India and Dubai”, Uflex Ltd Chairman and Managing Director Ashok Chaturvedi said here.
The firm, besides augmenting its existing plants output, will also start production at its new unit in Egypt, as part of a strategic move to increase company earnings from Rs 2,296 crore in 2009-10 to about Rs 4,500 crore (USD one billion) by 2013.
“We are aiming to double the production in our units and will mainly cater to the global markets. Our target is to have one billion dollar turnover by 2012-13,” Chaturvedi said.