Indian flexible packaging manufacturer Uflex will secure EUR30m financing for its third expansion project in Poland, from KfW IPEX-Bank in Germany.
Uflex is establishing its first European production facility in Wrzesnia, Poland, which will be able to produce 30,000t of biaxially-oriented polyethylene terephthalate (BOPET) film annually for the sales market in Northern and Central Europe.
German engineering firms Brückner Maschinenbau, Kampf Schneid- und Wickeltechnik and the subsidiary of the US electronics group Applied Materials, Applied Materials GmbH will supply plant and machinery for the facility.
Uflex is pursuing the goal of supplying its global sales market from a decentralized production, by setting up modern production plants at strategically selected overseas locations.
With the new Poland plant, which is set to be completed by the end of June 2012, the company is responding to the closing down of old production facilities in Europe.
