India's largest flexible packaging company Uflex Ltd plans an investment outlay of US$250 mln on capex over two years, as well as to double turnover to around Rs 9,500 crore in three years, as per Economic Times. This will involve investments in new manufacturing facilities and capacity expansion at existing locations. US$80 mln will be invested in a 30,000 ton polyester film plant in Kentucky (USA) planned to be operational by December. This is the first greenfield investment by an Indian company in Kentucky, and also Uflex's first manufacturing facility in the US.
Favourable global demand trends for its products have helped Uflex close the financial year ended March 31, 2012 with 30% growth in consolidated revenues of Rs 4,543 crore, as against Rs 3,540 crore for the previous year. Current ratio between domestic and overseas sales of 65:35, is expected to become 50:50 by 2015. Uflex, with a billion dollar revenue, is growing by 25-30% CAGR, and attain Rs 9,000-9,500 crore by FY'15.