Piramal Glass Ltd Selects Damco As Supply Chain Partner

Copenhagen, May 24, 2010 - Piramal Glass Ltd, leading specialty glass manufacturer for the Cosmetics & Perfumery (C&P), Pharmaceutical and Specialty Food & Beverages (SF&B) industries has appointed Damco as their supply chain partner. This appointment is an extension to the business relationship that Piramal Glass had with Damco over the past few years.

Piramal Glass is among the world's top five glass bottle makers by sales in the pharmaceutical segment, and the third largest manufacturer of cosmetics bottles by capacity, with combined installed capacity of 1,115 tons per day, and sales of USD 250 million worldwide. Piramal Glass has a large geographic footprint, with production facilities in India, USA, Sri Lanka and sales network spread across 70 countries.

Piramal glass is the only leading Asian glass manufacturer supplying to international Marquee clients across continents. Our partnership with Damco will increase our speed to market, enabling us to respond to our global markets efficiently. Our supply chain is truly global and we are glad that we chose Damco who has an equally impressive global network, says Mr. Vijay Shah, Managing Director, Piramal Glass.

Mr. Shah continues: We have very ambitious growth plans for C&P and it was important for us to identify the right partner who can support us through this dynamic period. We are confident that Damco with their experience, skills, products and IT infrastructure would be the right partner to manage our global requirements.

Mr. Shah adds: Today our markets are very competitive and dynamic. We need a very reliable and robust supply chain to serve our key customers and to manage our production, sales and distribution. At Piramal Glass, we consider supply chain management as a key pillar that would drive our growth and capability to establish ourselves as a leading market player. We needed a partner who had complimentary capabilities to support our growth in Europe, North America, Latin America and Damco suited that profile.

Mr. Lars Sorensen, CEO, South Asia, Damco says: We are very excited to see the confidence that Piramal Glass has shown in Damco. Our focus for Piramal Glass is to ensure a seamless supply chain, removing wastage, increasing reliability and providing a strong network that will supply Piramal's growth plans. We will continue to support Piramal Glass with opportunities through our innovative supply chain development program.

About Piramal Glass

Piramal Glass is part of the Ajay Piramal led Piramal Group, one of India's leading diversified business houses with interests in pharmaceuticals, healthcare, life sciences, financial services and real estate development. Piramal Healthcare Limited, the flagship company of the Group, has one of the widest pharmaceutical product portfolios in India.

Piramal Glass Ltd is one of the leading glass flacconage manufacturers supplying to the Cosmetics & Perfumery, Pharmaceutical and Food & Beverage industries. Piramal Glass Ltd operates directly and through their subsidiaries in the USA, UK and Sri Lanka. Piramal Glass equity shares are listed on BSE, NSE and ASE.

Piramal glass has manufacturing facilities situated in India (at Kosamba and Jambusar, both in Gujarat), USA (at Flat River and Williamstown) and Sri Lanka (at Horana) and markets the products directly and through selling agents across various countries.

In 2009, Piramal Glass recorded sales of INR 11.04 Bn. For more information, please visit http://glass.piramal.com/

About Damco

Damco is the new, combined brand of the A.P. Møller - Maersk Group's logistics activities.

Damco offers a broad range of supply chain management and freight forwarding services to customers all over the world, and has 10,500 employees in over 280 owned offices across 90 countries with representation in 120 countries in Africa, Asia, Australia, North America, Europe, Middle East, and Latin America.

In 2009, the company had a net turnover of over USD 2.0 billion, managed more than 2.3 million TEU of ocean freight and supply chain management volumes and air freighted more than 60,000 tones.

Damco is an independent business activity within the A.P. Møller - Maersk Group.

For more information, please visit www.damco.com.