Indian protective packaging maker Supreme Industries has announced plans to invest Rs280m ($6m) in a new unit in Hosur, Tamil Nadu, to manufacture protective packaging products.
The expansion is part of the company’s total investment plans of Rs2bn ($40m) for the current fiscal year.
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Supreme expects the expansion will be completed by September 2013.
The capital expenditure will be funded through internal accruals and the sale of its space in Mumbai’s Commercial Corporate Park.
