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news.Helvoet Pharma, a part of Switzerland-based Daetwyler Group, is set to invest INR1.2bn on a new greenfield production facility in the Khandala industrial area on the Pune-Bengaluru Highway, near Pune, India.
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Belgium-based Helvoet Pharma said that the plant, which will manufacture components for primary packaging of parenteral pharmaceutical and diagnostic drugs, is the first one outside of Europe and the US.
Daetwyler Pharmaceutical Packaging division head Guido Walraff said that the plant, expected to go on stream in early 2012, will serve as a strategic hub for exports to Europe, and addresses requirements of the market in India and neighbouring countries.
According to Helvoet Pharma Special Projects VP Dirk Borghas the installed capacity of the new plant will be one billion pieces in the first phase, which will gradually be ramped up to four billion pieces over the next three years.
Helvoet Pharma currently employs a total of 1,250 people worldwide and generated sales revenues of €185m in 2009.