Page 50 - Plastics News June 2017

BUSINESS NEWS

Coca-Cola and partners to invest Mold-tek Packaging to target

$ 1.7 bn in Indian agri ecosystem food & FMCG sectors for IML

by 2022 containers

he Coca-Cola Company - along with its bottling partners he Hyderabad-based Mold-tek Packaging Ltd (formerly
Tand fruit suppliers and processors in India - will invest Tknown as Moldtek Plastics Ltd), a manufacturer of
$ 1.7 billion in the agri ecosystem of the country over the injection moulded rigid plasticpackaging containers, is
next 5 years, spanning the entire supply chain from grove aiming to expand its in-mold labelling (IML) containers
to glass through a unique concept called the Fruit Circular business by focusing on fast-growth sectors such as food
Economy. Close to $ 800 million of this contribution would and FMCG, in addition to its traditional users such as
be towards the procurement of processed fruit pulp and lubes & paintsmanufacturers. Mold-tek claims to the first
fruit concentrate for The Coca-Cola Company’s ever company in India to introduce in-mold labelling concept
increasing portfolio of juice & juice drinks and carbonated for decorating plastic containers using robots.
drinks with juice products in India and the remaining would
be invested towards creating the required infrastructure. IML enables photographic quality decoration with
The company will further expand its juice product range complete hygienic and hands free production of
with the launch containerssuitable
ofMinute Maid for food & FMCG
Pulpy Mosambi products. “The
o n Mo nday. co mpany is
An estimated moving into high-
200,000 farmers value a dde d
will be n e fit IML decorated
from t h is 5 containers for not
year roadmap only its traditional
of sourcing fruit blue chip clients
pulp and fruit in paint & lube
concentrate derived out of 2.10 million tonnes of fruit. industry, but also

Coca-Cola in India is working on a transitional journey increasing entry into food & FMCG industries, where
focused on creating a virtuous circular economy of IML is proved to be the best option for hygienic and
sustainable agriculture (horticulture) by using a variety of food safety standard packaging,” commented J
Indian fruits in its beverages under the juice and aerated Lakshmana Rao, chairman & managing director, Mold-
drinks categories. Through this initiative Coca-Cola tekPackaging.Mold-tek has started commercial supplies
owned bottling operation in India - Hindustan Coca-Cola of IMLcontainers for the new brand chocolates Dairy Milk
Beverages; 13 other independent franchise bottlers and Lickables recently launched by Mondelez. The company
fruit processing companies - will invest around $ 900 million is also developing various new IMLcontainers for other
on manufacturing lines, juice bottling infrastructure and leading food & FMCG companies.
fruit processing plants and equipment and agriculture
interventions over the next 5 years to support the demand The company will also set up plants at Vizag and Mysore
and the growing range of the company’s non-carbonated for supplying pails (bucket-shaped plastic containers)
drinks portfolio. Hindustan Coca-Cola Beverages and Jain to the new plants of Asian Paints. Meanwhile, Mold-tek
Irrigation have already invested in Project Orange Unnati Packaging Ltd reported 12 percent increase in revenues
and Project Mango Unnati that promotes good science and in FY2016-17 to Rs 345 crore compared to Rs 308 crore
technology like ultra high density plantation (UHDP) and in 2015-16. Similarly, net profit was up 12 percent to Rs
micro irrigation system for enhanced produce. 27 crores from last year’s Rs 24 crore.

Plastics News | June 2017 50