To meet the demands of its fast growing Asian markets, Michelman has invested in additional production equipment at its Singapore manufacturing facility that increases its capacity by 40%. The investment complements and supports acquisition activity and organic growth by Michelman in Asia. This will allow the company to serve its expanding customer base in a better way, particularly in China and India.
Michelman has aggressively enhanced its base in Asia with the recent acquisition of long-time sales partner Supack in Mumbai, and a growing sales and support staff and laboratory facility in Shanghai, China.
According to Steven Wong, VP-managing director, Michelman Asia-Pacific, “With a decade of robust growth in Asia, this investment was needed to allow us to continue developing and delivering advanced materials that meet the needs of our customers. With our increased capacity in Singapore, coupled with manufacturing facilities in the US, Germany and Belgium, and joint venture manufacturing in Japan, we can satisfy demands faster than ever across the entire Asia-Pacific region.”
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.
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