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Uflex to commence Kentucky packaging facility operations

Packaging company in India, Uflex has announced that the company’s new $80m greenfield facility in Kentucky, US is set to commence operations by January 2013.

Uflex, which was earlier known as Flex Industries, hopes to achieve 30% growth in revenue from Rs58bn ($1.05bn) to Rs60bn ($1.09bn) this fiscal, thehindubusinessline.com reported.

The company, which also has presence in Dubai, Mexico and Egypt, manufactures various packaging materials and products with atotal capacity of 344,000 tons annually, at present from its 12 units.

In India, the market share of Uflex is around 35% in the segment that is organized.