Uflex delays expansion in Latin America

By Satnam Singh
Correspondent

Published: September 6, 2013 1:34 pm ET

Related to this story

Topics Packaging, Film & Sheet, Extrusion, Latin America

MUMBAI — India’s flexible packaging major Uflex Ltd. has put on hold its expansion plans in the Latin American market.

The company was planning to establish a production facility, most likely in Brazil, in 2013.

“The global as well as home market conditions have become tough, forcing us to put on hold further expansion in the international market,” said CEO Amit Ray, at the Speciality Films and Flexible Packaging Global Conference in Mumbai. “We are now focusing on consolidating our business and optimizing the operation in the five overseas facilities in 2013 and 2014.”

Currently, Uflex has five overseas plants located in the United States, Mexico, Poland, Egypt and Dubai.

Uflex would likely to build the sixth overseas film plant in 2015. “It could be a greenfield facility either in Russia or South America,” Ray said.

Despite a gloomy economic scenario on the domestic front, Uflex is going ahead with its fourth facility in India. The converting plant will be in western or southern India, according to N. Siva Shankaran, vice president for business development.

“We have not decided on the plant location as yet. It would likely to be decided early next year,” said Shankaran.

Uflex claims to control around 30-35 percent of the $3 billion annual flexible packaging industry in India. Its products include PET and polypropylene films, laminates, pouches and holographic films.


Comments

Uflex delays expansion in Latin America

By Satnam Singh
Correspondent

Published: September 6, 2013 1:34 pm ET

Post Your Comments


Back to story


More stories

Image

Pregis Corp. to get new owner

April 22, 2014 11:44 am ET

The private equity owner of Pregis Corp. is selling off its North American operations for an undisclosed sum.    More

Europe's bag use still expected to climb despite possible bag restrictions

April 22, 2014 9:29 am ET

Ceresana, a Germany-based research company, has released a report forecasting that by 2020 the sales volume of bags and sacks in Europe will reach 9....    More

DuPont: Asia's food packaging market at a major transition point

April 21, 2014 1:26 pm ET

DuPont Co. touted its packaging innovations and applications, and updated the firm's commercial status at a media event two days before the Chinaplas ...    More

Image

Savvy customers follow raw material prices as closely as processors

April 21, 2014 2:25 pm ET

Savvy customers closely follow the prices of raw materials. The result: in the film and sheet segment of the plastics industry, even if processors...    More

Spain's Cristian Lay Group buys two materials units of bankrupt LSB

April 17, 2014 11:11 am ET

Spanish industrial conglomerate Cristian Lay Group has purchased two of the bankrupt Spanish PET packaging group La Seda de Barcelona.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events