IAPRI members target Asia
With PepsiCo setting up a new R&D centre in Shanghai and MeadWestvaco acquiring a major Indian corrugated producer, IAPRI's corporate members appear very focused on high-growth Asian markets. PepsiCo opened the Chinese site, its largest food and beverage innovation centre outside North America, in November. The company said it would be a "hub of new product, packaging and equipment innovation" for its businesses throughout Asia. But it was unable to confirm what role packaging research would play in the operation.
PepsiCo and China joint venture partner Tingyi now have more than 70 drinks manufacturing plants nationwide. It says that its annual net revenue in emerging markets nearly tripled from $8 billion in 2006 to $22 billion in 2011.
Meanwhile, this month, MeadWestvaco (MWV) completed the acquisition of Indian corrugated board producer Ruby Macons.
The Gujurat-based company manufactures around 150,000 tonnes of containerboard from two mills. MWV also has a converting plant in Pune producing humidity-resistant corrugated board packaging.