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Corporate
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Alliances & Joint Ventures
Shetron, Metropak in tie-up
Our Bureau
Bangalore, April 24
Metal caps' maker Shetron has tied up with the Denmark-based Metropak for production of lug caps and closures for the food industry. Shetron's Chairman and Managing Director, Mr Diwakar Shetty, told newspersons on Tuesday that the commercial production of the venture in which both the companies have invested over Rs 10 crore has commenced. Mr Shetty said Shetron plans to be the leading food packaging and solutions provider for the food processing industry. It has earmarked Rs 80 crore for expanding Shetron's operations. The company expects to achieve a turnover of around Rs 500 crore in five years. Its current turnover is around Rs 85 crore. Shetron exports about 20 per cent of its production, out of which 85 per cent is exported to Africa and the remaining 15 per cent to Asia-Pacific.
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