ACG Worldwide to invest 600 cr in 3 yrs for expansion

ACG Worldwide to invest 600 cr in 3 yrs for expansion

Mumbai: Leading empty hard capsules manufacturer ACG Worldwide plans to invest around 500-600 crore over the next three years to fuel its expansion plans including enhancing the manufacturing capacity.

ACG Worldwide offers a range of solutions from manufacturing empty capsules, granulation and coating, capsule filling, tabletting, packaging films, blister packing and carton packing to the end-of-line solutions.

“The pharmaceutical service landscape is changing. Customers today seek comprehensive technological access to all types of products and services from a single source. Since we are one of the leading end-to-end solutions provider in this area, we see a huge growth potential," said the company’s chairman, Ajit Singh.

Currently, the size of pharmaceutical market in India is around $11 billion and is growing at over 10-12% every year.

“We plan to invest around 500-600 crore in the next 3 years for our expansion which would include doubling our capsule and packaging film manufacturing capacity as well as entering new geographies," he said.

ACG also manufactures the machinery for producing capsules, packaging films, encapsulation machines, tablet coaters and performance enhancers.

The company, which recorded $200-million revenue in FY’11, is eyeing a 20% growth in its sales in FY’12, he said.

“Our major revenues, almost 50%, come from exports. We want to increase this further by entering new geographies. We already have offices in North America, China, Indonesia, Brazil and Europe. We are in talks with few Indian as well as international companies for acquisitions," Singh added.