Helvoet pharma is to strengthen its position in Asia with the construction of a new facility in India.
Helvoet Pharma, a European producer of rubber, aluminium and plastic caps and closures for pharmaceutical bottles and containers, is to strengthen its position in Asia with the construction of a manufacturing plant in India.
The company aims to take advantage of the country's position as a centre of excellence for generic and branded pharmaceutical products. India has the highest number of US FDA approved plants outside the US and is expected to become a significant healthcare consumer market, the company says.
Construction of the brand new plant equipped with up-to-date facilities will start in the third quarter this year on an industrial site near Pune.
Over the next two years, Helvoet Pharma will spend some Euro 14m on the plant, which will open in 2012. There is also room on the site for expansion, if required.
Helvoet Pharma, is a global supplier of primary and secondary pharmaceutical packaging components. It is headquartered in Belgium and has additional manufacturing facilities in Europe, the US and Asia, supplying more than 10 billion parts to the pharmaceutical industry every year.