MUMBAI: Piramal Glass Ltd (PGL), a leading glass container manufacturer, on Wednesday said it will invest Rs 100 crore towards capacity expansion at its Jambusar unit in Gujarat .
PGL plans to add 160 tonnes per day (TPD) capacity at its Jambusar plant through a greenfield project, which is likely to be completed by FY 12, the Piramal Group firm said.
"We will focus on high margin cosmetic and perfumery segment (C&P). We have decided to increase our production in the segment as the business contributed around 32 per cent to the total sales in Q3 FY11," PGL Managing Director Vijay Shah, the company said in a release here.
Further, the company has proposed to transfer 75 tonnes of its current capacity in the pharmaceutical segment to the C&P business. It also plans to streamline its global operations in the countries like USA and Sri Lanka.
Accordingly, PGL has proposed to bring down its six pharmaceutical production lines to four by the end of this fiscal in the US, where the company will be concentrating only on speciality food and beverage bottles.
"Our unique product-mix with a focus on C&P is driving our growth and overall profits. We will continue with this growth momentum and we are sure that the proposed expansion would help us end the year on a high," Shah said.
"The company expects to clock a 26 per cent growth in its C&P business and envisages to post 16 per cent growth in its total sales between FY 11 and FY 13," he said.
