Piramal Glass to close down factory for Rs.3bn upgrade

10 August 2016 12:02 am - 0     - {{hitsCtrl.values.hits}}

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Glass bottle and container manufacturer Piramal Glass Ceylon PLC, a unit of India’s Piramal Group, said it would be closing its manufacturing facility in Horana during the second quarter (2Q17) for capacity enhancement and refurbishment.


“Consequent to the completion of the life of the existing furnace, we have embarked on a major expansion project along with relining of the furnace” Piramal Glass Chairman Vijau Shah told shareholders in the company’s 2015/16 annual report.


 He further said that the expansion would increase the capacity of glass production to 300 tonnes per day from the current 250 tonnes per day.


 A Piramal Glass statement said the company would be investing Rs.3 billion in this exercise.
 It further said the strategy behind the expansion and modernization of the plant was to “build in-house manufactured stocks for proprietary bottles and to import generic bottles.”

 

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