Bosch Packaging Technology, one of the leading suppliers for total solutions in packaging and process technology, has acquired 33,000 square meters of land in the Verna Industrial Estate to build up its new plant.
The company is planning to invest four million euros. Speaking at the announcement, Karthik Viswanathan, Managing Director of Bosch India said: “This investment will fuel our ambition to grow in the packaging industry.”
Bosch's Packaging Division started its Indian operations in Bangalore in 1995 before moving to Verna/Goa in December 2007. By the end of 2012 Bosch is aiming to have a fully operational plant integrating the whole Indian production. With the new plant the division will see an increase in the production capacity and its number of employees.
To mark this occasion, Friedbert Klefenz, President of Bosch Packaging Technology, said: “We have a strong market position in the emerging markets, and to cater to the rising demands we are looking into expanding our existing portfolio. This approach has not only brought us closer to our customers but has also helped us strengthen their confidence in us. Today, India is the hub for SAARC (South Asian Association for Regional Cooperation) countries as well as the Middle East and Africa.”
India has enjoyed substantial growth in fast-moving consumer goods, the food and beverage sector as well as the pharmaceutical industry, which in turn stimulated the demand for packaging machines. Bosch India enters the market mainly for horizontal flow wrapping machines.
“In India the demand for packaging machines is expected to grow by 10 percent per year,” added Ashok Gourish, Business Head of Bosch Packaging Technology's Verna plant. “The development of food parks in India, increased hygiene standards in the food and beverage industry, adoption of Western-style medicines in the pharmaceutical sector and attracting global players of the confectionery industry to India – all these are factors which have acted as key catalysts for this growth”