08/13/2012 | Editor: Dominik Stephan
Bosch's Packaging Technology division inaugurates a new manufacturing site at Verna, Goa. India is a major growth market for the company: With the new local production site, Bosch Packaging Technology plans to double its production capacity in the country within three years.
Verna/India – “This new facility will bring our new global offerings to India. It will also contribute greatly in pursuing our future plans and consolidating our leadership position in the Indian and international markets. Hence, this is not just a milestone for the Packaging Technology division of Bosch in India, but a global one, too,” Friedbert Klefen, President of Bosch Packaging Technology in Germany stated.
The new Rs 340 million (about 5 million euro) facility was recently inaugurated in the presence of guests of honor from Goa's administration as well as participants Bosch's leadership circle from India and Germany. The new plant is expected to serve the increasing demand of India’s fast growing packaging market as well as international markets, speakers explained.
With the state-of-the-art technology, the new plant will aim at increased localization of new packaging machine production and make world class German technology affordable and available to the Indian market, Bosch believes.
Speaking on the development, Mr. V K Viswanathan, Bosch Managing Director in India, said: “Bosch sees India, Middle East and Africa as a high potential market for Packaging Technology particularly in the Pharmaceuticals and Foods segments. This state-of-the-art manufacturing facility in Goa will meet the growing needs of the region through appropriate products and packaging solutions.”
India, currently the third largest consumer of polymers, is abbout to become a global polymers powerhouse, market analysts believe. A recent study by Global Data expects the production output to rise by 9.4 percent annually. More in India’s Polymer Output to Grow by 9.4% per Year
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