Bengaluru-based Veepee Graphics Solutions has successfully completed the acquisition of two XPS Crystal systems (LED UV exposure) and an additional CDI 4260 and CDI 4836 (digital flexo CTP imager) from Esko during Labelexpo Europe 2023. The smaller format will soon be installed at the company’s Sri Lankan facility, while the larger format will find a new home in India – a location that the company will soon unveil. This expansion will bring Veepee’s total plant count in India to five.
P Jaichandra of Veepee Graphics Solutions, elaborated on the investment, remarking, “During the past three years, our Indian and Sri Lankan operations encountered difficulties stemming from the global economic slowdown and political turmoil in Sri Lanka. Consequently, our earlier intentions to modernize our technology and equipment were postponed. However, with the economy on the path to recovery and a positive outlook for future growth, we are now resuming our expansion plans.”
Jaichandra went on to provide further insight, stating, “Our steadfast commitment at Veepee has always been centered around embracing change and leading the way in adopting cutting-edge technology to enhance our customer service. Being close to our customers is of paramount importance to us. Given our extensive customer base across India, it has become imperative for us to establish manufacturing facilities in strategically advantageous locations.”
Discussing challenges, Jaichandra said, “The persistent reduction in plate prices has been a major issue. Post-Covid-19, almost every stakeholder in the packaging industry experienced price increases, justified by various factors. It was an ideal opportunity for an industry-wide price correction, which had long been under pressure. However, post-Covid-19, processed plate prices plummeted significantly due to oversupply and reduced demand, leading to distress sales.”
