3M Paper Boards to Boost Production Capacity by 25% in Sustainability Push

3M Paper Boards, a leading manufacturer of recycled paper-based products, has announced plans to expand its production capacity by 25% over the next two years. This strategic move aims to meet the rising demand for its eco-friendly products both in India and globally. The expansion, which will be funded through internal accruals, comes as the company looks to strengthen its market position.

The company, currently operating with an annual capacity of 72,000 tonnes, is also exploring the possibility of establishing a new plant closer to key markets. Managing Director Rushabh H. Shah emphasized the company's commitment to sustainability, noting that all products are made from 100% recycled wastepaper. This focus on green manufacturing aligns with growing consumer demand for environmentally friendly products.

To support its growth, 3M Paper Boards recently raised ₹40 crore through a public issue. Of this, ₹14 crore will be allocated to expanding the factory, ₹10 crore will be used for working capital, and ₹7 crore will go towards debt repayment. The company’s Chiplun facility in Maharashtra, which spans 30 acres and includes a 4-MW captive power plant, plays a crucial role in its operations.

Serving a diverse range of industries, including food and beverage, pharmaceuticals, and consumer goods, 3M Paper Boards exports its products to over 15 countries. The planned expansion is expected to enhance the company’s ability to meet the growing demand for sustainable packaging solutions worldwide.

News by Rahul Yelligetti