Usha Sharma – Mumbai
The Mumbai based leading packaging solution provider ACG Worldwide has chalked out robust expansion plans. The company is investing Rs 400 crore to set up a new manufacturing plant at Pithampur, Indore in a phased manner. It is targeted to commence phase I and phase II productions from July 2013 and May—June 2014 respectively. The company has arranged funds from internal accruals.
Sharing expansion details with Express Pharma, S M J Noronha, President and CEO, ACG Associated Capsules said, “We are setting up our new manufacturing site at Pithampur in a phased manner. The construction work of the phase I is almost ready and we are expecting to begin production from July 2013. We are investing Rs 400 crore and targeting to touch a turnover of Rs 400 crore from this facility itself in the next three years.”
The company is installing 24 new high speed capsule filling machines and for the phase I there will be three to four machines will get installed in the facility. The company is bringing global technology to the Indian market which has a capacity of producing five million capsules per day. As the company has robust plans it will also need manpower to carry this forward. For the phase I it plans to hire 160 people and will be adding 120 people in phase II .Commenting on the targeted turnover from the new facility in the first year, Noronha replied, “It is too early to comment on this. Still I would like to mention that from the first year of our new upcoming facility we are targeting to touch the turnover Rs 40-50 crore.” He continued, “We will be able to see the actual outcome only in the third and fourth production year . We are projecting to touch a turnover of Rs 400 crore by 2015.” While the current overall turnover of the group is Rs 1000 crore. Noronha says that the company is aiming to touch Rs 2000 crore in the next three years.
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