Shreevar Kheruka, Managing Director, Borosil Glass Works, in an interaction with Sanjiv Das, talks about Borosil’s recent acquisition of Klasspack, its plans to leverage opportunities in pharma glass packaging and strategies to become India’s most customer-centric company
Recently, Borosil announced the acquisition of 60.3 per cent shares in Klasspack. Why did you go in for the acquisition?
At Borosil, our endeavour is to be India’s most customer-centric company. Borosil has been a trusted supplier of high quality products for the Indian pharma industry for the past 50+ years. In feedback sessions, our customers have indicated to us that there is an opportunity to supply them high quality pharma glass packaging products owing to an increased requirement of compliance in the industry. Based on this input, we looked at various options for entering this sector including a greenfield project. However, when we came across Klasspack, a company that has many of the same value systems as Borosil, it seemed a natural point of entry into this space.
With compliance becoming increasingly stringent in the Indian pharma sector, what made Borosil Glass Works enter the primary pharma glass packaging business?
We see compliance stringency as an opportunity. Borosil currently provides glassware to pharma laboratories. We pride ourselves on accuracy and traceability, with some of our products delivering an accuracy of 0.006 ml. We have always worked to provide products that far exceed compliance demands and we are confident that by upgrading Klasspack’s manufacturing facilities, we will deliver to the increasingly stringent norms required by the pharma industry. Klasspack already had a strong reputation for service and product development. Our vision is to be a partner which provides reliable, high quality, on time primary glass packaging to our customers.
Do you also plan to enter the secondary and tertiary pharma packaging business in future?
Primary packaging is a large market with a huge opportunity for us. We would like to spend the next few years concentrating on primary glass packaging.
Why do you think pharma companies will be keen to use your packaging products?
As with all customers, pharma companies will accept us if we provide value. Borosil stands for trust, and we will upgrade the manufacturing facilities with clean rooms, world class machines, automatic lines and automated vision inspection systems. If we execute these plans well, there is no doubt that our customers will support us.
Are there plans to set up any new facilities besides the one located in Bharuch, Gujarat?
Borosil group already has large facilities in Jaipur, Bharuch and Tarapur. However, for the primary glass packaging space, Klasspack’s Nashik facility has significant capacity to accommodate our immediate and near future plans.
Any additions to the core team after the acquisition?
While our existing team is very competent to execute immediate growth plans, Borosil is always on the look out for motivated and competent individuals who can contribute during this exciting phase of the company’s growth.