SIG plans to construct a new plant in Queretaro, Mexico to serve North American markets. The plant will further expand SIG’s global production network and will enable the company to build on its strong track record of growth in North America. Image SIG
SIG announced in mid-April 2021 that it will construct a new plant in Queretaro, Mexico to serve North American markets. The plant will further expand SIG’s global production network and will enable the company to build on its strong track record of growth in North America.
Through its existing sales and service presence, SIG has been able to forge strong relationships with major dairies in Mexico, a large and growing milk market. In the USA, the company has a well-established co-manufacturing customer base and is ideally placed to serve innovative and expanding new categories.
SIG investing on its new plant
The company will invest around €40 million (approximately Indian Rupees 360 crore) in the new plant over the period 2021-2023. The investment will cover state-of-the-art production capacity for the printing, cutting, and finishing of carton packs. The plant is expected to open in the first quarter of 2023 and will create around 200 jobs. It will have a highly flexible layout with a focus on ergonomics and the environment. Land and buildings will be financed through a long-term lease with an NPV of approximately €20 million.
Ricardo Rodriguez, president & general manager of SIG Americas, said, “We are very excited to announce this project which will enable us to serve our North American customers faster and more efficiently. Delivery lead times will be reduced and we will be able to respond rapidly to changes in demand. Our new plant will further drive growth in the region while demonstrating our commitment to the highest environmental standards.”
The impact, resilience, and growth of responsible packaging in a wide region are daily chronicled by Packaging South Asia.
A multi-channel B2B publication and digital platform such as Packaging South Asia is always aware of the prospect of new beginnings and renewal. Its 16-year-old print monthly, based in New Delhi, India has
demonstrated its commitment to progress and growth. The Indian and Asian packaging industries have shown resilience in the face of ongoing challenges over the past three years.
As we present our publishing plan for 2023, India’s real GDP growth for the financial year ending 31 March 2023 will reach 6.3%. Packaging industry growth has exceeded GDP growth even when allowing for inflation in the past three years.
The capacity for flexible film manufacturing in India increased by 33% over the past three years. With orders in place, we expect another 33% capacity addition from 2023 to 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels have grown similarly. The numbers are positive for most of the economies in the region – our platform increasingly reaches and influences these.
Even given the disruptions of supply chains, raw material prices, and the challenge of responsible and sustainable packaging, packaging in all its creative forms and purposes has significant headroom to grow in India and Asia. Our context and coverage engulf the entire packaging supply chain – from concept to shelf and further – to waste collection and recycling. We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers.
In an admittedly fragmented and textured terrain, this is the right time to plan your participation and marketing support communication – in our impactful and highly targeted business platform. Tell us what
you need. Speak and write to our editorial and advertising teams!
For advertisement ads1@ippgroup.in , for editorial info@ippgroup.in and for subscriptions subscription@ippgroup.in
