Rexam invests in India
The new high-speed line represents a capital investment of £30 million (US$48m) and will see production increase to 950 million cans per year.
Rexam HTW was the first beverage can maker to enter the Indian market back in 2007 and through its range of beverage cans supports a number of successful consumer brands in India. The company has been at the forefront of innovation, working in partnership with its customers in India to successfully build the beverage can as the preferred packaging choice for drinks.
Rexam chief executive Graham Chipchase (pictured right) said: “Rexam is very pleased and proud to be opening this new state of the art aluminium beverage can line at our plant in Taloja. This investment is fully in line with our strategy to grow in faster moving markets. It will support and enable us to take advantage of the exciting opportunities the Indian market has for beverage can packaging.”
Sanjay Bhatia (pictured left), chairman of Rexam HTW India, added: “We at Hindustan Tin Works are delighted to be in a joint venture with Rexam in this new two-piece beverage can investment at our existing location in Taloja. We look forward to continuing our work with Rexam to build a growing and successful business.”
In other news, Hindustan Tin Works recorded an 11.4% jump in net profit after tax for its second quarter, which ended on 30 September 2012.