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Mold-Tek Packaging forays into IBM Packaging, to set up plant with Rs 50 cr in Telangana

Hyderabad, Sept 30 (UNI) Hyderabad-based Mold-Tek Packaging, the leader in Injection molded plastic containers in the country, on Thursday announced to foray into Injection Blow Moulding (IBM) packaging products with in-Mold Labelling (IML) for Pharma and Cosmetics.
Announcing this at a press conference here, Mold-Tek Group Chairman and Managing Director J. Laxmana Rao said that we will set up initially a 10,000 sq ft facility for IBM packaging with an investment of Rs 10 crore by April next year and it will expand to 50,000 sq ft at our land at IDA Sulthanpur (Ranga Reddy district), outskirts of Hyderabad, which could house 30 IMB machines and IM machines for caps with a total outlay of another Rs 50 crore in the period 2022-24.
For the first time, Mold-Tek Packaging is entering IBM technology, which opens up vast opportunities in the Pharma, Cosmetics and FMCG industries; he said Indian IBM packaging market size is more than Rs. 5000 crore, growing at a rate of 8-9 percent per annum.
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