MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, announced plans to invest CHF 10 million in a new Healthcare Packaging manufacturing plant in Cuddalore in Tamil Nadu State, located about 25 km from the city of Puducherry, said the company on its site.
The plant will manufacture Clariant's market-leading moisture control products to support the growing pharmaceutical packaging market in India.
Clariant Healthcare Packaging, a member of Business Unit Masterbatches, manufactures a full range of controlled atmosphere packaging solutions including pharmaceutical desiccants, equilibrium sorbents, adsorbent polymers, oxygen scavengers and pharmaceutical closures and containers. The new plant in Cuddalore will initially produce desiccant canisters and packets, which are inserted into pharmaceutical packaging to control moisture and protect the stability of the medicine during shelf life. The desiccant production area will be Clean Room Class 100,000 and certified ISO 8. It will be compliant with all relevant cGMP and US FDA standards.
The new plant will primarily serve globally active generic and branded pharmaceutical companies operating in India, as well as the domestic Indian pharmaceutical market. According to Markets and Markets, a major global market-research firm, India's pharmaceutical packaging market is projected to grow at a compounded annual growth rate (CAGR) of 10.2 percent from 2015 to 2020. India Ratings & Research, another research company with six offices across India, recently reported that Indian drug makers accounted for 40 percent of U.S. generic drug imports. It forecasts a 20 percent CAGR for the overall pharmaceutical market through 2020.
The new Healthcare Packaging plant in Cuddalore—together with its plant in Changshu, China and the recent acquisition of healthcare packaging specialist VitaPac, located in Dongguan, China—positions Clariant to play a major role in the expanding healthcare sector across Asia.
As MRC wrote previously, in April 2014, Clariant Chemicals (India ) Ltd., an affiliate of Clariant AG announced the successful closure of the acquisition of Plastichemix Industries - a Gujarat based masterbatches business in India, with production facilities at Rania, Kalol and Nandesari.
Earlier, in mid-2013, Clariant and Tasnee, one of the largest industrial conglomerates in Saudi Arabia, announced the signing of an agreement to establish a masterbatches joint venture in Saudi Arabia.
Clariant Chemicals (India) Limited and custom color and additive products with production of more than 10,000 color matches which are completed each year. With more than 50 manufacturing plants around the world, Clariant
Masterbatches products, technology and service deliver competitive advantages that foster long-term customer relationships.
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