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Uflex targets $2bn turnover by 2015

Packaging company in India Uflex is all set to double its revenue to around Rs95bn ($2bn) by 2015. The company has also announced plans to invest $250m on capital expenditures (capex) spread over two years.

As part of its expansion plans, Uflex will invest $80m to set up a polyester film plant in Kentucky, US, which is set to be operational by December 2012 and will have an annual capacity of 30,000t, PTI reported.

The company is at present getting 35% revenues from overseas market and expects this to be 50:50 by 2015.

The company’s total investments in Egypt facility are pegged at $135m. The facility has trade deals with Gulf nations, Southern Europe and Africa, Middle East, West Asia and Commonwealth of Independent States (CIS) countries to access larger markets. Investments in Mexican plant amounted to $109m.

Uflex has manufacturing plants that are spread over globally in India, Egypt, Dubai, Mexico and Poland.