Mold-Tek sets up new packaging plant for Asian Paints

Mold-Tek Packaging Limited, a Hyderabad-based plastic packaging product manufacturer with over 25% market share in lube and paint packaging segments, has inaugurated its new plant in Satara district of Maharashtra.

The plant, which has commenced commercial production, is exclusively dedicated to the packaging needs of paint company, Asian Paints Limited.

“The total cost of the project is Rs 12.5 crore and the initial capacity is 2,500 tonne a year, which can reach up to 4,500 tonne within the next two years,” the company said in a filing to the BSE on Friday.

The plant is expected to add additional revenues to the extent of Rs 3 crore for 2012-13, Rs 30 crore in 2013-14 and Rs 60 crore by 2015-16, the company added.