Helvoet breaks ground on Indian packaging plant
Helvoet Pharma of Belgium has started officially started construction of a new production facility in India that is scheduled to begin operations in 2012.
The packaging component specialist – which mainly produces rubber and aluminium parts for parenteral medicines – first announced its intention to build the plant back in February as part of a strategy to expand into Asian markets.
Helvoet is investing around 14 million euros in the 36,000 sq.ft. plant in Pune, Maharashtra state, which will be used to make components for parenteral drugs and diagnostic agents and employ around 100 staff.
It is expected to have capacity to make a billion components in its first year, rising to four billion a year when it reaches full operations in 2014. At the moment Helvoet supplies around 10 billion components a year to customers from its current manufacturing plants in Belgium, Germany, Italy and the US, and has annual turnover in the region of 2 million euros.
India was a key location for the plant because of its position as the largest and most established source of quality generic and branded medicines throughout Asia and the rest of the world, commented Helvoet’s chief executive Guido Wallraff at a press conference to announce the start of construction.
“Our confidence in the Indian market is reflected in our long association with the country,” he commented. “Our engagement dates back to 1991 when we started collaboration in India for distribution of our products.”
India has the highest number of FDA approved plants outside the US and is expected to become a significant healthcare consumer market, said the firm.
With the new plant Helvoet will continue to gain ground on arch-rival West Pharma Services of the USA, which according to market estimates currently has the largest market share among parenteral component manufacturers.
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