Under new ownership, the rebranded and revitalisedPGP Glass is accelerating digital transformation to optimize its business and assert its dominance across multiple market sectors.
A global provider of glass packaging solutions, PGP Glass (formerly Piramal Glass) is Asia’s largest specialty glass manufacturer. Now under new ownership, the rebranded and revitalized company is accelerating digital transformation to optimize the business and assert its dominance across multiple market sectors. Vice Chairman Vijay Shah speaks exclusively to Glass Worldwide (preferred international journal of the All India Glass Manufacturers’ Federation) to share his vision for the company and its roadmap to greater growth. The full version of this article appears in the July/August issue that has been mailed globally and is also now available free of charge in the digital archive*.
A lot has changed for Vijay Shah since the last time this publication caught up with Vijay Shah at work (Glass Worldwide November/December 2016). As Director of Piramal Glass Ltd, Mr Shah led the glass packaging company until the Piramal Group sold the business to American investment management company Blackstone at the end of 2020. Acquired for US$1 billion, the purchase was finalized on 31 March 2021 and Piramal Glass was rebranded as PGP Glass, with Mr Shah appointed Vice Chairman.
The change of ownership affords PGP greater scope to broaden its reach in the premium cosmetics and perfumery (C&P) and specialty spirits markets, particularly in Europe. The company also has plans to expand into new product lines such as food jars and premium water bottles.
Operating from India, Sri Lanka and the USA via four manufacturing facilities and several decoration plants, Piramal makes 1475 tonnes per day of glass globally from 12 furnaces and 65 production lines. The Blackstone takeover has presented multiple new opportunities and will enable the company, as PGP, to generate more business, for example in the C&P sector, where “gaining market share in Europe inorganically will be a priority” says Mr Shah. “We believe, it may be done quickly with support from Blackstone. In the long run, the perfume market is expected to grow exponentially in India and PGP will be poised to take advantage of it,” adds Mr Shah. “PGP (erstwhile Piramal Glass) entered the C&P sector in 2005 and became the world leader in the nail polish product category. We aim to gain the similar position in perfumery line of products as well. While doing that we want to add a second engine to our growth journey which is the specialty spirit segment. It is a huge market and PGP will create its mark in that segment as well,” he maintains.
In addition to rapid growth of the premium spirit market in India, PGP stands to benefit from heightened environmental awareness and climate concern which is increasing demand for glass packaging in the food and beverage sectors.
Piramal becomes PGP : Click here to read news article