Avery Dennison is setting up a new state-of-the-art manufacturing plant at a reported investment of US$ 34 million (approximately Rs 250 crore) in a part of Greater Noida called the Yamuna Expressway Industrial Developing Authority (YEIDA). A manufacturer of labelstocks in India since 1997 with several sites in operation, 12 acres of land allotted have been allotted for the new site. The new industrial area is described as Greater Noida but is just a bit further south and near the upcoming Yamuna city and the new Jewar airport that should be ready in a couple of years.
Food and snacks manufacturer and retailer Haldiram has also received a large plot in the same industrial area, which is across the river from Delhi in the state of Uttar Pradesh. The Uttar Pradesh government expects the combined investment of Avery Dennison and Haldiram to be in the region of about Rs. 500 crore. Mobile phone maker Vivo has been allotted 169 acres of land in YEIDA’s sector 24A and is expected to invest Rs. 5,200 cores (approximately US$ 690 million) to set up its plant there.
Avery Dennison states that the new plant will produce technically-advanced, pressure-sensitive materials for the labeling and packaging industry and have a state-of-the-art coating and lamination line. Avery Dennison started its first plant operation in Gurgaon in 1997 with a hot melt coating line. It established a second site in the following year. The company has continuously expanded across India with sites and plants, including Pune, Gurgaon, Bangalore, and Kolkata. The company opened its first intelligent and
smart label innovation demonstration center in Pune, which is its third globally and the first-of-its-kind I.Lab in the Asia-Pacific region.
With this current investment, the overall investment numbers of India for Avery Dennison exceeds US$ 136 million (approximately Rs 1000 crores). Pankaj Bhardwaj, vice president and general manager, Avery Dennison India, said, “We are delighted to announce a new manufacturing plant in UP which is a key part of our overall strategy to keep expanding the market and developing our ability to serve our customers better. This expansion also re-affirms our commitment to our stakeholders and in developing state-of-the-art products and services while embracing innovation and future technologies. This step also further strengthens our belief towards the potential India holds and towards our people to grow the business sustainably.”
“UP has emerged as a preferred investment location and will, therefore, give us many opportunities to grow our business and deliver creative, sustainable solutions to our customers. We are happy to share this important milestone with our stakeholders, and we will continue to share more in the near future,” he added.
Anil Sharma, vice president, and general manager, LGM, Avery Dennison, APAC, said, “India is one of our key markets in the Asia Pacific region. There is no doubt that it holds immense potential to grow our business further and cater to customer needs. This investment is proof of our confidence in this region and its importance to our global business strategy. The new facility will enhance Avery Dennison’s capability to grow the market for labels and packaging materials in India in close collaboration with our customers.”
The company says the new facility is expected to generate long-term employment opportunities while boosting the Make In India initiative. The plant’s construction is scheduled to commence shortly, and the company is currently focusing on the construction-related aspects.