Airnov Healthcare Packaging, a supplier of shelf-life preservation products for pharmaceutical, nutraceutical and diagnostic products, has announced its site expansions in Changshu, China, and Cuddalore, India, are nearing completion. The company’s manufacturing plant in Belen, New Mexico, USA, is also being modernised with updated equipment and an additional production line planned to go into operation in 2022.
“The demand for safe pharma and healthcare packaging keeps rising,” said Dr Matthias Brommer, President & MD at Airnov. “In fact, the global desiccants and modified atmosphere packaging industry is expected to grow at annual rates of five percent. We are investing heavily to seize these opportunities, as we continue our four-pillar strategy designed to enhance productivity, drive product innovation, open attractive new and emerging market segments, and support further growth.”
While these investments will help the company offset some of the recent cost increases in energy and transportation, it says, global supply chains have come under significant pressure, resulting in steeply rising raw material prices. Another cost driver is seen in increasingly severe safety and environmental regulations.
“Despite all efforts to mitigate the cost increases a price adaptation by at least 5% and up to 11% if exposed to certain raw materials had therefore become inevitable to stay ahead and meet these challenges without compromising the competitive benefits of our superior products for customers,” said Brommer.