UFLEX Ltd., an Indian firm, has selected Elizabethtown, Kentucky, for its first U.S. manufacturing facility. The company will initially invest $90 million and create 125 jobs, and ultimately invest $180 million and 250 jobs.
"It is our corporate mission to become one of the most admired companies in the global flexible packaging business. Toward this objective, our group philosophy has always been to progress through internal growth and better customer service by setting up new manufacturing plants as close as possible to our major markets using state-of-the-art technology and investing in global scales of production," said Ashok Chaturvedi, chairman of UFLEX. "We are very upbeat about our U.S. manufacturing venture and look forward to a lifelong and rewarding relationship with the commonwealth of Kentucky, whom we decided to partner with after a detailed evaluation of several potential sites in the USA, as they eminently fulfilled all our criteria. The USA is the world's largest and most technologically advanced packaging market, and our first manufacturing plant here will be a high point of our leadership ambitions in this business."
The Kentucky Economic Development Finance Authority has preliminarily approved UFLEX Ltd. for tax incentives up to $20 million through the Kentucky Business Investment program.
UFLEX produces flexible packaging. It expects the first phase of the project to be operational by the end of 2012.