Chinese company Dragon International has fought its way into its first packaging materials distribution deal in the burgeoning Indian pharmaceutical market.
Under a new contract, that could contribute up to $2m (€1.6m) in annual revenue for Dragon, the firm's wholly owned subsidiary, Jinkui Packaging Material Company will manufacture and distribute up to 400 tons of cold-forming aluminum to Indian packaging firm India Amaratara.
Under the terms of the agreement, Shanghai Jinkui could also become an exclusive supplier for India Amaratara's sale and distribution network in India.
"We are very excited to enter the pharmaceutical packaging market in India and we believe this market represents another tremendous growth opportunity," said David Wu, CEO and chairman of Dragon International.
Wu said the agreement also allows Dragon, one of China's leading manufacturers and distributors of specialty paper products and packaging materials, "to diversify its revenue base geographically."