Uflex to strengthen its European position by a manufacturing base in Hungary - VIDEO REPORT
2018. 11. 21.
The Uflex Group, India's largest multinational flexible packaging material company, is establishing a new plant in Hungary through an investment of more than EUR 70 million. From 2020, the Hungarian subsidiary FlexFilms Europa is going to produce a completely new type of foil, never seen in Europe before, at the new plant, creating 170 new jobs.
The foundations of Uflex were laid down by the current Company President in 1985, and its headquarters is in India, where it has grown to be the largest flexible packaging material manufacturing company. The company has a very large portfolio, supplying to customers in more than 140 countries in the world, including big brands such as P&G, PepsiCo, Tata Global, L' Oreal, Ferro Rocher, GSK, Nestlé, Coca-Cola, Johnson & Johnson.
The group had a consolidated income of about USD 1 billion in the fiscal year 2017/2018, has 8000 employees around the world, and operates high-tech production units not only in Asia but also North America and Africa.
Their factory at Rétság is going to be their second European plant, and yearly 50,000 tons of products will be supplied to the European customers after reaching full capacity.
India is the 9th largest investor in Hungary, as the direct capital investments from the country exceeded USD 2.2 billion in 2016. Over the past period, a number of significant Indian investments have been completed in Hungary, such as the inauguration of Apollo's tire factory at Gyöngyöshalász in April 2017, or the factory inauguration of SMP, also an automotive industry company, November last year. Furthermore, in June this year, the construction of a plastic packaging foil factory by the SRF chemical industry conglomeration has been confirmed.
