AGI glaspac has decided to invest up to Rs 130 crore in technology upgrades to increase its capability to produce lighter bottles and reuse glass.
A leading container glass maker, the Hyderabad-based company will obtain the latest technology called NNPB from Europe for producing light weight bottles, said a BusinessLline report.
It added that the technology helps reduce bottle weight by a third without compromising on the quality of performance.
Rajesh K Khosla, President & CEO of the Rs 1,300 crore turnover company, was quoted as saying in the report: “We have production capability and will need about ?100 crore investment to get the special technology and harness it for manufacturing products that will mostly be exported.”
According to the report, AGI glaspac, the Packaging Products Division of HSIL Ltd, is the first Indian company to export light bottles to beer majors in Europe. It will expand the market to North America and Africa in a big way.
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