Uflex eyes Rs 4,500-crore revenue in FY 12

MUMBAI: Packaging major, Uflex, plans to invest Rs 380-crore to set up a polyester films plant in the US with an annual capacity of 30,000 metric tonnes and is eyeing a Rs 4,500-crore revenue this fiscal, a top company official said.

The company operates plants in India, Egypt, Dubai and Mexico and the US plant will be Uflex's sixth manufacturing facility. Uflex had clocked a Rs 3,500-crore revenue in FY 11.

"Our US facility will have a manufacturing capacity of 30,000 MTPA and will start production by December 2011," Uflex Group's President (Finance and Accounts), R K Jain, told media today.

The flexible packaging firm is also setting up another plant in Wrzesnia in Poland at an investment of around Rs 360-crore, which is expected to be operationalised in June 2012.

"The Poland facility capacity will be around 30,000 MTPA and will go operational in June 2012," he said.

"With the operation of the two facilities, we expect a Rs 4,500-crore revenue by end-this fiscal," Jain said.

Uflex caters to the global markets including the USA, Canada, South America, UK, Europe, Russia, South Africa, Middle-East and South Asian countries.