We would invest Rs 15 crore to enter the publication inks business this year and Rs five crore for setting up an Asia R&D hub in Bhiwadi in Rajasthan to cater to our operations in South-east Asian countries including Malaysia, Philippines and Indonesia, as also the Middle-east, its wholly-owned Indian subsidiary managing director VK Seth said here.
Apart from the development of new products, the R&D hub would provide customer service, technical support and functions to reduce raw material cost and continuously upgrade quality at all its plants in the region.
Indian engineers would be trained at the centre and sent to the South-east countries, Mr Seth said, adding the recruitment process for the R&D centre was on and about 20 people were being recruited.
The company which claims 34 per cent of the market share in flexible packaging, would also foray into the publication ink offset business this year. We would be entering into the publication inks offsetsiness this year and invest about Rs 15 crore in the venture, Mr Seth said.