Hassia Packaging announces expansion plans, undeterred by the slow down

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Does it make real good sense to expand in the face of unstable markets? While many would beg to differ, and understandably so, there are few who think otherwise. One could call it a false sense of bravado or smart business acumen. So, you still have companies going ahead with their expansion plans. One such company is Hassia Packaging India Pvt Ltd. When PSA asked K Ravi, Managing Director and CEO of Hassia, at its press conference held in Pune on 12 May 2009, whether the company’s expansion plans are just on the drawing board or actually rolling out, he replied in the positive. He categorised his expansion plans into three parts: engineering of the machines; brick and mortar work; and building the sales network. Work on all three has been ongoing for the past year and is now in an advanced state of implementation. He further added, “We do not believe that there is any recession, at least in India. In fact, the packaging industry here is growing at 16 to17%, while Hassia is growing at 30%.” According to Ravi, in today’s current market scenario when all industries are facing hard times, the packaging industry is growing rapidly in the food, dairy and pharma segments.
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