In a move to tap the emerging anti-counterfeiting segment of the packaging industry, New Delhi based Svam Packaging Industries has partnered with Japanese Packaging Giant- Toyo Aluminium K.K. to bring in advanced technology to tackle the menace of spurious drugs.

Toyo Aluminium has acquired 33.4 per cent stake in Svam for an undisclosed amount. As part of the joint venture agreement, Svam Packaging will now become 'Svam Toyal Packaging Industries'.

“This partnership will help us serve our customers better and provide safer packaging products in healthcare as well as food and beverage industry,” Svam Packaging Industries Managing Director Satish Ailawadi said.

Of late, the government has taken several measures to deal with problem of spurious drugs. It is also considering to introduce mandatory barcoding and track-and-trace mechanism to avoid counterfeiting of genuine medicines.

Currently, Svam has three manufacturing plants in India – two in Sonepat and one in Siliguri (West Bengal). The R&D, after the joint venture, will be based out of Japan.

Going forward, the company also plans to enter the food industry with packaging solutions. It also plans to export products to the US, Europe and Middle East.

Toyo Aluminium is a leading aluminium packaging company with a turnover of around $1 billion. It has strong presence across various geographies, including the US, Europe and China.

“India is a growing market with requirement of innovative products. We want to invest in India's remarkable growth story and ensure product safety through offering our innovative technology in the packaging domain,” Toyo Aluminium President Hiroshi Yamamoto said.

The pharmaceutical packaging industry is growing rapidly by around 20 per cent annually.

 

Source: timesofindia.indiatimes.com

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