In a move to fortify its attendance internationally and consolidate its position in India, UFLEX Ltd, a top Indian flexible packaging company, has declared that its aggressive business and investment plans of more than $250 million for the next two years.

Mr. Ashok Chaturvedi, chairman and managing director, UFLEX Ltd said, "We are setting up new units across the globe, primarily to cater to the global market. Our target is to have one billion dollar turnover by the year 2013."

Mr. Chaturvedi didn't discount the opportunity of acquiring units all over the world.

UFLEX runs 3 manufacturing facilities in India, one each in Mexico and Dubai. It is projected to begin production in a high-tech plant in Egypt in July 2009. The second stage of the Egypt divisions is likely to be commissioned in the third quarter of financial year 2011-12.

These units make a wide variety of plastic films and packaging products providing end-to-end solutions to customers in over 100 nations.

Presently, the company has yearly revenues of over Rs 30 billion and is listed on the Bombay Stock Exchange and National Stock Exchange in India.

"The Rs 15,000 crore (325 million USD) domestic industry (of flexible packaging) is growing annually at the rate of 15-18 percent due to increase in demand for flexible packaging products, especially by the FMCG (fast moving consumer goods) and food sector," he said.

"We want to become a preferred supplier of the packaging materials not only in India but across the globe," Chaturvedi said. (With Inputs from Agencies)