Constantia Flexibles to Double Sales in India in 5 years
by Shrutee K/DNS Mumbai, April 30, 2018: Constantia Flexibles, the world’s fourth largest flexible packaging group, is aiming to double its sales in India within the next five years. This is the result of its recent acquisition of a majority stake in Creative Polypack and its group companies, as well as expansion plans of its existing subsidiary Parikh Packaging. Through the acquisition, Constantia Flexibles is already India’s third largest flexible packaging group and is expecting to reach the c. 200 million EUR sales mark (INR 1,600 crore) in 2022, through market growth and ongoing investments. The flexible packaging market in India is expected to grow by more than 10 percent in the next five years, driven by the megatrend urbanization and the expansion of the retail sector. India has become the third largest economy in the world after USA and China, with high single-digit GDP growth, major infrastructure projects in roads and ports, a simplification of the tax sys...