Avery Dennison has inaugurated its new manufacturing facility in Greater Noida signaling strong confidence in the growth of the Indian packaging industry.
The company has invested around 250 crore for setting up the new manufacturing plant taking the India investment to 1000 crores INR (123.5 million USD).
The company was largely reliant on imports 25 years ago. With its increased foothold in the market, it has now moved to almost 100 percent localized production capability in India making it more in sync with the prime minister’s ‘Make in India’ initiative.
Through this new facility, the company will be consolidating its manufacturing operations to better serve customer demands while optimizing the new technology and leveraging the improved efficiencies.
Saurabh Agarwal, senior director and general manager, Label and Packaging Materials, South Asia for Avery Dennison, said:
“We are extremely delighted to inaugurate our world-class manufacturing facility in Greater Noida and with this latest expansion, we are looking for the next big chapter in our growth in India. Our new facility is built on one of the most sought after land allotted by the UP Govt. and by expanding in UP, we will be able to serve the requirements of our customers better and also enhance the company’s production capacity to meet the growing demand of the Indian market.”