Piramal Glass - Us Operations Move To India

Piramal Glass has decided that it will move some of its US operations to India as part of restructuring, and will lay off around one third of its 540 EU employees. "We have created huge additional capacities in our manufacturing locations in India, and shifting the manufacturing from the US facility to these locations will directly result in saving cost by move than 50%," MD Vijay Shah said. "By doing this, we hope the US subsidiary will also break even by the end of this year." Piramal is among the world's top five pharmaceutical glass bottle makers with regards to sales in that segment and is also the third largest manufacturer of cosmetics bottles by capacity.