IP Subsidiary Chairman Details Investment in India
Print this Article | Send to Colleague
International Paper (IP), Memphis, Tenn., USA, a global player in the pulp, paper, and paper packaging industry, will continue to evaluate investment opportunities and capacity expansion in India, Rampraveen Swaminathan (pictured at right), chairman and managing director, International Paper APPM, said in an interview this past week with The Hindu (Chennai, India).In 2011, the $24-billion company acquired Indian Andhra Pradesh Paper Mills (APPM), which then achieved break-even under IP's management by 2014-15.
Swaminathan explained that the company had continued its focus on achieving operational excellence through integrated initiatives in safety, reliability, overall machine efficiency, quality, and cost reduction. This has resulted in a notable improvement in production and profitability.
IP has a market share of 5% in India and will now focus more on emerging as a preferred brand, while maintaining growth with profitability. The company will also reportedly focus on new product launches and continuing its exports from India to west Asia, Africa, and Latin America.
"Our plant is located on the coast, which gives us a strategic advantage in exports... Hence, we will like to maintain the current 20%-25% share of exports in our overall business," Swaminathan said.
As a part of the customer support exercise, he said the company would identify and partner the right customers "who are growing and want us to grow with them. We will go and work with them in their printing units," he concluded.
