Metplast eyes Himachal pharma industry

Delhi-based AMD Metplast Ltd, a leading packaging solution provider for the beverage industry, will soon begin catering to the packaging requirements of the pharmaceutical industry in Himachal Pradesh and Uttarakhand.

Speaking to Business Standard, managing director of the company, Ashok Gupta said: "Pharma is a growing sector and we hope to start work in Himachal and Uttarakhand by the end of 2007."

The company's executives are talking to some of the pharma companies, based in HP and Uttarakhand, for possible business opportunities. With the recent move of large sized pharma companies setting up their facilities in Himachal and Uttarakhand, the company is hopeful of receiving better business from these states.

"Lots of major pharma companies have moved to HP and Uttarakhand and we intend to tap them," added Gupta.

AMD Metplast will be adding additional three to four moulding machineries that will cater to the pharma industry packaging demand. The company will be investing approximately Rs 5 crore for setting up its new machineries at its present facilities in Uttar Pradesh.

The company's product profile includes crown caps, plastic closures and PET preforms for carbonated soft drinks (CSD), mineral water, beer and other alcoholic beverages, fruit juices, sauces, etc. It claims to hold a market share of 35 per cent of the total beverages market in India.

Currently, the company has four production facilities, with three in UP and one in Rajasthan. The annual production of crown caps is 2661.12 million, while of CSD closures is 288 million and PET preforms is 4,620 tonnes. Metplast will be adding 3,000 tonnes to its capacity of PET preforms, apart from raising Rs 22.58 crore for setting up its new PET preforms line at the existing plant in Neemrana, Rajasthan.

The company also received IPO Grade 3 from credit rating agency CARE. It is the highest IPO Grade assigned to any company by any rating agency in recent times.