SIG Group constructs plant in India
28 February 2023 15:13
SIG Combibloc Services AG plans to build a plant for aseptic carton packaging in Ahmedabad in the Indian state of Gujarat, according to a statement from the globally active Schaffhausen-based packaging manufacturer. The plant will produce four billion carton packs annually for Indian suppliers of dairy products and non-carbonated soft drinks that use SIG filling systems. The SIG Group will invest around 60 million euros by 2025.
“India is fast becoming the world’s most populous country and has a very low per capita consumption of entry level packaged food and beverage goods,” commented Angela Lu, President & General Manager Asia-Pacific South at SIG. “Since entering the market five years ago we have grown exponentially.” Construction of the new site is scheduled to start this quarter. The start of production will follow at the end of 2024.
In the financial year 2022, SIG generated worldwide net sales of 2.78 billion euros, according to another statement from the group. Year-on-year, this corresponds to growth of 27.4 per cent in constant currency. Growth was primarily generated by the acquisitions of Scholle IPN and the fresh produce packaging business from Asia-Pacific Pactiv Evergreen (Evergreen Asia).
Adjusted for currency effects, organic growth amounted to 8 per cent. SIG also installed more than 90 filling lines at customers' sites in the year under review and concluded contracts for further filling lines.