Piramal Glass, a leading manufacturer of glass containers for cosmetics & perfumery (C&P), specialty foods & beverages and pharmaceuticals industry, has decided to invest Rs.260 crore over next two years, including Rs.100 crore for expansion of capacities, at its plant in Jambusar, Gujarat. The company, formerly known as Gujarat Glass Ltd, had revenues of Rs.1,100 crore during FY 2010 and it has a global footprint, with manufacturing facilities located in USA, Sri Lanka and India. The company markets its products to more than 54 countries across the globe.


Piramal Glass has planned to add 160 tonnes per day capacity through a greenfield project, which is likely to be completed by FY 2012. further, the company has proposed to transfer 75 tonnes of its current capacity in the pharmaceutical segment to the C&P business.


Vijay Shah, managing director, said, “We are concentrating our focus on high margin premium segment of C&P, which will better overall margins for Piramal Glass. 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.”


“The C&P business has grown to 51 per cent of the total sales in Q3 of FY2011, and with the additional capacities coming in we expect the same to touch 60 per cent of the total sales over next two years. The C&P business is likely to grow by 26 per cent CAGR till FY 13 making it the fastest growing C&P packaging company globally,” Shah added.