The Klöckner Pentaplast Group plans to build a new manufacturing plant in Aurangabad in India.
The company is to invest in excess of $20 million in the first phase of the manufacturing facility that will produce films for pharmaceutical and food packaging, as well as specialty technical films.
Klöckner Pentaplast will also build its first centre of excellence for pharmaceutical films in India at the same location to pursue process development and technology transfer from other centres around the world.
Serving customers in India and across Middle Eastern geographies, the new manufacturing plant, with a capacity of 15k tons per annum at start-up, will be operational by early 2008 and is expected to employ over 90 individuals.
Earlier in the year, the company announced the acquisition of the Gwalior/Malanpur, India, PVC films and sheet production business from Mumbai, India-based Supreme Industries for $6 million.