Financial Daily from THE HINDU group of publications
Friday, Apr 07, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 07, 2006 |
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Corporate
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Alliances & Joint Ventures Yodeva forms venture with Austrian firm Our Bureau
MR GUENTHER LEHNER (left), CEO, Alpla Group, with Mr Vagish Dixit, Managing Director, Alpla India Pvt Ltd, at a press conference in the Capital on Thursday. - Kamal Narang
New Delhi , April 6 The Alpla Group, an Austrian plastic packaging company, has agreed to form a 74:26 joint venture with Yodeva Plastics Pvt Ltd, a Hyderabad-based rigid plastic packaging solutions company. The joint venture, named Alpla India Pvt Ltd (APIL), has set up a manufacturing facility in Himachal Pradesh to avail of the tax incentives with an initial investment of $5 million. "We have set up a unit in Baddi and would double its production capacity to 10 lakh a day by the year-end," said Mr Guenther Lehner, CEO of Alpla Group. "We plan to add four more units in the country over the next three years," he added. In addition to the manufacturing facilities, the company intends to set up a technical centre in Asia to support its units in the region. Mr Lehner said: "India is a preferred location to set up a technical centre but we will also look at other countries." The company, which is involved in the production of plastic bottles, caps, and packaging systems, hopes to have a large clientele in the FMCG sector from companies such as Dabur, Procter & Gamble, and HLL. "We already have an anchor client - Reckitt Benckiser - and are looking to serve both Indian and global FMCG companies," said Mr Vagish Dixit, Director of Yodeva Plastics Ltd.
More Stories on : Alliances & Joint Ventures | Plastics | Packaging
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