Essel Propack: Purchase of Indian packaging company

Plastics tubing group Essel Propack has acquired fellow Indian company Packaging India Private Ltd (PIPL), which makes pouches, shrink sleeves and other plastic packaging.

Essel Propack vice chairman and managing director, Ashok Goel, said: “This is a significant step in our product diversification strategy. With the pharma and retail market poised for tremendous growth, the demand for speciality packaging materials is slated to rise high.”

Essel Propack is acquiring PIPL from major brand owner CavinKare, which said PIPL could better realise its growth potential as part of another packaging group.

PIPL’s capability includes gravure printing machines, lamination, slitters/rewinders, pouching machines and shrink sleeve equipment. Production capacity at its Pondicherry facility has expanded from 300tpa in 1991, when the company was launched, to 6,000tpa in recent years.

Essel Propack said there are many synergies with PIPL, including high-end lamination technology for speciality materials, and barrier property technology.

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