Supreme Industries unveils expansion plans

Indian protective packaging maker Supreme Industries has announced plans to invest Rs280m ($6m) in a new unit in Hosur, Tamil Nadu, to manufacture protective packaging products.

The expansion is part of the company's total investment plans of Rs2bn ($40m) for the current fiscal year.

Supreme expects the expansion will be completed by September 2013.

The capital expenditure will be funded through internal accruals and the sale of its space in Mumbai's Commercial Corporate Park.