Rexam-Hindustan Tin to set up Rs 220 cr beverage can manufacturing line
Rexam PLC, the global consumer packaging company, and Hindustan Tin Works Ltd, a leading Indian can maker, have announced that they are building a new high speed beverage can manufacturing line at their current site in Taloja close to Mumbai.
Rexam PLC, the global consumer packaging company, and Hindustan Tin Works Ltd, a leading Indian can maker, have announced that they are building a new high speed beverage can manufacturing line at their current site in Taloja close to Mumbai.
The new line represents a capital investment of Rs 220 crore (£30million) over two years. It will initially produce 33 cl and 50 cl cans and then slim cans, increasing total capacity from the current 300 million cans per year to c 850 million cans per year. Production startup is planned for the final quarter of 2012.
Sanjay Bhatia, managing director, Hindustan Tin Works Ltd, said: "We are pleased to work further with Rexam as a joint venture partner and this investment reinforces our commitment for the Indian beverage can market. We share an excellent relationship with all the leading customers in India and this capacity will help further to grow the beverage can market and to satisfy our customers growing demands."
Graham Chipchase, Rexam's chief executive, added: "We were first in India when we set up our joint venture with Hindustan Tin Works in 2006 and have good knowledge of this exciting market. The investment is consistent with our emerging market strategy. The country has enjoyed considerable growth over the last decade, with rising incomes and a young middle-class, and this trend is expected to continue. Per capita consumption of beverages lags substantially behind the rest of the world but the beverage packaging market is growing fast and one of the fastest growing packages is the beverage can."
Sanjay Bhatia, managing director, Hindustan Tin Works Ltd, said: "We are pleased to work further with Rexam as a joint venture partner and this investment reinforces our commitment for the Indian beverage can market. We share an excellent relationship with all the leading customers in India and this capacity will help further to grow the beverage can market and to satisfy our customers growing demands."
Graham Chipchase, Rexam's chief executive, added: "We were first in India when we set up our joint venture with Hindustan Tin Works in 2006 and have good knowledge of this exciting market. The investment is consistent with our emerging market strategy. The country has enjoyed considerable growth over the last decade, with rising incomes and a young middle-class, and this trend is expected to continue. Per capita consumption of beverages lags substantially behind the rest of the world but the beverage packaging market is growing fast and one of the fastest growing packages is the beverage can."
Source: Rexam PLC
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