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Representational image

Schott clocks over 32% growth in India

ANI | Updated: Jan 22, 2019 21:37 IST

Mumbai, Jan 22 (ANI): German glass conglomerate Schott AG today announced sales of Rs 341 crore in India during 2017-18 (October 1, 2017 to September 30, 2018), marking an increase of 32.6 per cent in the year-on period which converted into 26.2 per cent after currency effects.
The key growth driver segments for the country were Schott's tubing, pharma-packaging and flat glass for cooking.
Murali Viswanathan, Managing Director of Schott India, said the Indian pharma industry is expected to grow over 15 per cent till 2020 and outperform the global pharma industry. "This, clubbed with the conducive environment for manufacturing industry enhanced via ‘Make in India’, has been a driving factor for our exemplary growth.”
Next to organic growth, Schott plans to further enhance its offerings through focused, strategic acquisitions. Seven mergers and acquisition transactions took place in the past fiscal year with a strong focus in the fields of big data and artificial intelligence.
This expansion of the innovation pipeline also led to introduction of 100 per cent inspection systems in Schott's plant at Jambusar in Gujarat.
"The new tank facility being set up in Jambusar is expected to be complete by 2020 and will increase our production capacity by an additional 50 per cent," said Sundeep Prabhu, Schott India's Vice-President for Sales and Marketing. "This will help us address the expanding client demands for our high-quality offerings in India as well as other foreign markets.”