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Tuesday, December 18, 2007

Ire-Tex to set up foam unit

Ire-Tex India Pvt. Ltd., a 50:50 joint venture between Ire-Tex Corporation Berhad, part of the $250 million Penang headquartered conglomerate, and Premier Tissues India Ltd., will invest Rs. 15 crore in phases to set up an eight tonne a day foam extrusion plant for packaging material at Sriperumbudur.

G. G. Shenoy, General Manager of the joint venture, which makes the Premier brand of paper tissues and other products in India, said that “We have already started making packaging material for computers, including laptops, peripherals and mobile phones in a facility at Ambatur Industrial Estate in Chennai. Because of the Malaysian company’s expertise in serving global computer manufacturers, we already have customers here such as Dell and aim to grow our market share to Rs. 25 crore of the total market of Rs. 100 crore in India. Many computer manufacturers want to switch over to recyclable foam packaging which we make”. The plant near Chennai was likely to be operational by April 2008.

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