MTL had earlier acquired Varahi Polymers in 2016 to establish a footprint in the north. Last year, the company took over National Plastics, a company, which makes dispensers and pumps, to extend its products portfolio.
Apart from inorganic expansion, the company is also steadily expanding its capacity organically. It has set up a greenfield plant in Silvassa, near Gujarat, expanding its footprint in western India. With this, the company operates 7 rigid plastic manufacturing plants with a total annual capacity of 150,000 million tonnes per annum.
recently rolled out its first recycling plant in Bidadi, Bengaluru, to deliver recycled packaging to personal care, hygiene and home products companies
at an investment of $3.5 million. The company plans to set up 3-4 more such plants in a couple of years to take the overall recycled raw material capacity from 6,000 MT to 20,000 MT.
“We have set up an ecosystem in which we collect used bottles, process and recycle them to produce quality output which can be used as a circular economy for non-food and non-pharma segments,” said Kapote.