Hyderabad, Sept 30 : Hyderabad-based Mold-Tek Packaging, the leader in Injection molded plastic containers in the country, today announced to foray into Injection Blow Moulding (IBM) packaging products with in-Mold Labelling (IML) for Pharma and Cosmetics.
Announcing this at a press conference here, Mold-Tek Group Chairman and Managing Director J. Laxmana Rao said that we will set up initially a 10,000 sq ft facility for IBM packaging with an investment of Rs 10 crore by April next year and it will expand to 50,000 sq ft at our land at IDA Sulthanpur (Ranga Reddy district), outskirts of Hyderabad, which could house 30 IMB machines and IM machines for caps with a total outlay of another Rs 50 crore in the period 2022-24.
For the first time, Mold-Tek Packaging is entering IBM technology, which opens up vast opportunities in the Pharma, Cosmetics and FMCG industries; he said Indian IBM packaging market size is more than Rs. 5000 crore, growing at a rate of 8-9 percent per annum.
Our USP in this area would be IBM packs decorated with IML, a Novel Concept in India merging top-class hygiene and world class decoration. We hope to achieve around 5-6 per cent market share in the next 4-5 years, he said.
The company also setting up a new plant in Uttar Pradesh to cater to the demand in North region and in particular demand from KNP and Berger paints, he said, adding the company has acquired 2.61 acres of land from UPSIDC in this regard.

Pilot project is starting in October 2021 in leased premises at Unnao, Kanpur, he said we hope to establish the new plant fully functional by end of 2022, with an investment of Rs 20 crore.
Laxman said our entry into IBM products for Pharma and Cosmetics is a logical extension to exploit better value addition and enhancing shareholders wealth using our immense technological / innovative skills and backward integrated IML facilities and long standing business relations with major MNCs in India.
Our company is all set for better growth in future as we have taken many market friendly initiatives at a time when Indian companies started perceiving packaging as a value add to their end products, he said.(UNI)