Piramal Glass to invest Rs 100 cr to set up new unit this year

Date: 1 February 2011
Source: In.finance.yahoo.com

Date: 1 February 2011

New Delhi, Jan 23 (PTI) Piramal Glass, a leading global manufacturer of glass containers, today said it will invest nearly Rs 100 crore to set up a new unit this year to cater to increased demand from domestic and overseas markets."We will set up a new furnace to manufacture bottles at our existing plant at Jambusar in Gujarat at an investment of Rs 100 crore," Piramal Glass Managing Director Vijay Shah told PTI.

The new unit, which will be 12th such facility in the company, will have a production capacity of 160 tonnes per day. The company at present has a total capacity of 1,115 tonnes per day.

"The new unit is expected to be operational by fourth quarter of next fiscal (FY 2011-12)," Shah said.

The company, which produces all kinds of glass bottles for pharmaceutical and perfume industry, is also looking to raise prices from February 1.

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