• A Recap
• Latest Updates

Dear Team,

The past month has largely been focused on paving the way forward, and I would like to share some key updates with you.

Firstly, the process of gathering investments for the US and Guatemala Kawok project has gained momentum. We completed our financial model and initiated discussions with all the investors. This is an essential step moving forward, as the investors will assess whether investing in the project is profitable or not. Now, we are engaging in deeper conversations with interested investors, and the next few months will be dedicated to this process

We realized that after many years, Pakka once again has an open field to work with, allowing us to use the experience gained over the past 40 years to establish the world’s leading plant. I understand that the India-based team is well-versed in Jagriti, but the Guatemala team lacks full experience. During this time, we had discussions with a team based in Finland, and we have now reached an agreement with them. They will gather experienced engineers from around the world to take charge of technology selection and implementation for the project. Along with this, we finalized the site map and moved basic engineering to its final stage.

With Eduardo and Satish, I had the opportunity to attend the annual conference of the International Molded Fiber Association and met several promising technology vendors who could assist us further.

Satish has been included in the US team, as the work there needs to pick up pace. We had selected Ted for leadership in the region, but unfortunately, we had to part ways as he wasn’t able to push the business forward. Now, John Holmes has joined our team, bringing a wealth of experience in molded fiber. Together, we have assessed the market and started developing future strategies. It has also been decided that we will not engage in the paper trade in the US, as it might detract from our upcoming goals. The search for a new leader continues, and the right person will join us soon.

Efforts to strengthen the Innovation Team are ongoing. Significant improvement is needed in this area, as it is new solutions for customers that will drive us forward, and we have noticed we are falling behind in this process. We need to come together once again to form the right team and process, and for this, we will have a 2-3 day brainstorming session in Bangalore this month. Renowned innovation gurus Alan Gregerman and Mark Dorfman will also join the process and guide us. I aim to make significant investments in this direction, and the greatest need is for the right team and mindset, for which 2-3 more members will join the interaction.

In Guatemala, we have started working on a social initiative in collaboration with a music and literature group, Sotzil. I was truly impressed by their vision and dedication. We will start this work in the villages surrounding our plant and spread Mayan culture among the children.

The coming months will be exciting… We need to gather capital for Kawok, establish a robust R&D, get Jagriti back on track, and focus all our energy on achieving the goals we’ve set.

I have full confidence in the Pakka team that we will leave no stone unturned in our efforts and thinking.

Best regards,
Yours,
Ved