Hi-Tech Inks targets 21,000mt with new factory
The Indian ink industry is optimistic about growth in the country, and are making investments into production facilities. This explains Hi-Tech Inks’ new plant in Vapi. The factory will be three times the size of its existing plant and shall boast double the capacity. Built in a total construction area of 100,000 sq/ft, the plant will have an installed capacity of 21,000mt of inks per annum.
25 Feb 2019 | 15662 Views | By Ramu Ramanathan
Karan Mahajan, managing director of Hi-Tech Inks while speaking to WhatPackaging? said, "We have designed our new plant by taking into account total safety in producing solvent-based inks. This includes some of the safety measures such as solvent underground tanking storing system. Totally isolated intermediate and finish inks manufacturing with all flameproof systems."
Mahajan said, "The new plant will enhance the capacity of ink production that will enable Hi-tech inks to tap into new markets. With new modern equipment as well as manufacturing techniques, we will have better quality and capacity to serve our existing as well as new customers."
Hi-Tech Inks is a specialised producer and supplier of flexographic and gravure inks. Since 1989, the company with its roots in Johannesburg, South Africa, added two more plants in South Africa, Durban and Capetown. Later it added a facility in Tanzania (East Africa) in 2002, Sharjah (UAE) in 2003 and finally in Vapi in 2007. The existing Hi-Tech factory was built in 2007 when Hi-Tech initiated its Indian operation with the focus of "servicing the domestic flexible packaging market." This factory has a capacity of 10,000mt per annum.
Mahajan said, "We are mainly manufacturing solvent-based inks used by flexible packaging converters. These are lamination as well as surface inks used in printing food and non-food packaging by gravure printing plus flexo printing method." In addition, Hi-Tech produces a variety of over-printing lacquers used as print finishes such as gloss and matt. Mahajan said, "We are manufacturing the entire range of liquid inks product required by flexible packaging industry today and continuously developing products for future needs."
The growth in the flexible packaging industry over the past few years has resonated with the growth in Hi-tech Inks. That's how the Mahajans decided to plan for the future as well. When queried about the existing plant, Mahajan said, "There are a few things on the cards at the moment which the board is considering but we are yet to make a final decision. The prime focus at the moment has been to get the new plant ready and kick-start production there."
Mid-2019 is the target that has been set to inaugurate the new facility. Mahajan added, "More than 200 employees will be part of the task force at the new plant. This would mean an additional 20% to the current workforce."
Today, Hi-Tech Inks is rated as one of the fastest growing Indian ink companies with a CAGR which exceeds 20%.
Two minutes with Karan Mahajan
Karan Mahajan joined the ink business in 2009 after having completed his industrial engineering from the US. He worked as a senior engineer for the world's second largest home improvement retailers before mastering the art of pigments and resins.
The objective of the new plant: This decision is aligned with our corporate objective. "To present Hi-Tech Inks' efforts to align its resources to meet the current and future needs of its customers by working in partnership to provide a total packaging solution."
No longer a regional ink company: We will enhance our existing position from a regional ink company to a Pan India ink company. We would like to be among the top three companies in the country. We want to be a quality supplier, especially in the premium segment. These are some of our objectives while building the new plant.
Market trends: India has been a growing market and will continue to grow. Although there has been a little slack in the market in the past few months, we are positive that this scenario should turnaround. Thus in order to continue to cater to the growth in the market, you have to be proactive in our approach of growth as well.
Customers: The main driver for our decision to invest in a new factory has been to ensure that we are able to service our customers with the same ease as we have been doing thus far. With the modern equipment and enhanced manufacturing process, we will produce top quality plus augment our capacity and serve our existing as well as new customers, better
Business impact: The new plant will have enhanced the capacity of ink production that will enable Hi-tech Inks to tap a new market. The new factory will have scope to tap the unexplored export markets, in and around India’s neighbourhood.
Expectation and aspirations: We expect better volumes, better and consistent quality, safe environment, and most importantly a better workplace for our workforce.
Packaging verticals Karan Mahajan bets on: Food packaging inks in the Toluene-free inks segment, CI flexo inks, and high-speed print inks in food packaging.