Paharpur 3P lines-up Rs 100cr investment for packaging solutions

New Delhi, Dec 20 (UNI) Uttar Pradesh-based machineries and equipments manufacturer company Paharpur-3P today said it plans to invest Rs 100 crore over the next five years in new machineries and technologies.

''We are in the process of investing in new technologies and machinery in an effort to bring in more relevant technologies to the retail trade as also export market,'' Paharpur 3P Director Sujit Shome said.

Mr Shome said the company is also on the look out to acquire package-manufacturing units in different parts of the country and has almost zeroed in on one such company.

Overall, Paharpur 3P estimates its market share in the Rs 150 crore organised market for packaging solutions dominated by half a dozen major players to be seven per cent.

''This year we are expecting the turnover to reach Rs 125 crore and in five years around Rs 500 crore turnover'' said Mr Shome, adding that last year's turnover was Rs 106 crore.

He said the company is working on a five-year rolling plan to invest around Rs 80 crore to Rs 100 crore to acquire new technologies and machineries starting with a coater laminator that could cost Rs two crore to Rs 20 crore.

The company has been acquiring technologies from abroad as also equipment to meet its goal of moving up the profitable value added chain.

The company has another unit in Chennai, catering to the needs of customers in the southern region like Hindustan Lever Ltd (HLL).

Some of the clients of Paharpur Industries Ltd include HLL, ITC, Dabur, Mother Dairy, JK, MRF, SKF, Asian Paints, Heinz, Bayer, Tata Tea, Eveready, Parry, Britannia, Sara Lee, Novartis, Henkel, Perfetti and others.

UNI SRS SBA RS1906