German glass corporation Schott AG announced a sale of Rs 341 crore in India during 2017-18, marking an increase of 32.6 per cent in the year-on period which converted into 26.2 per cent after currency effects.
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.”
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