Uflex to manufacture in the US

Uflex has announced plans to invest US $180 million on a new flexible packaging PET film (polyester) plant on a green field site in Kentucky.  The event was marked by a dinner in New Delhi at which Steven L Beshear, Governor, Commonwealth of Kentucky, was guest of honor.
 
Ashok Chaturvedi, chairman and managing director of Uflex, said: ‘It is important to ensure wide availability of our products and it makes sense to manufacture products close to where our customers are located.  Global demand for flexible packaging films is rising rapidly, and this investment is aimed at meeting future demands.  Producing PET film in Kentucky will result in shorter lead times for our customers, and we are grateful for the support we have received in the US.’
 
Other Uflex green and brown field expansion projects include manufacturing lines for new product categories across facilities in Egypt, Mexico and India.  In addition to the US venture, the company recently initiated plans for a new PE manufacturing plant in Poland, which is expected to be operational by June 2012.
 
Uflex has declared its aim to hit the $1 billion revenue mark by FY 2012, and currently reports an exponential growth of 423% in its consolidated net profit for the quarter that ended on 31st December 2010.