Constantia Parikh and Constantia Creative will work very closely together: Pavan Parikh

Constantia Flexibles Group has agreed to acquire a majority shareholding in the Indian motion-picture show-based laminates producer Artistic Polypack Limited. Fiscal details of the transaction were not disclosed and the transaction is expected to exist completed in the coming weeks, awaiting regulatory approvals.

Creative Polypack Express is family owned and was founded in 1986. Information technology is expected to attain sales of about EUR 75 one thousand thousand (approximately Rs. 585 crore) in the financial year 2017-2018 and currently has about 850 employees at eight production sites in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.

Artistic Polypack is Bharat's 4th largest flexible packaging group, manufacturing film-based flexible packaging for the nutrient and dwelling house and personal care (HPC) industries, as well as paper-based soap wrappers. The company serves the leading domestic and international consumer goods companies in India. Creative's senior management will remain in their electric current roles, according to the Constantia press release.

Alexander Baumgartner, master executive officer of Constantia Flexibles says, "Through this acquisition, we will become the tertiary largest flexible packaging company in India – the fastest growing packaging market globally, with double-digit growth rates driven by the megatrend urbanization and the expansion of the retail sector. In add-on, nosotros gain a stronger footprint in the HPC market, which complements our existing customer portfolio, while we are now able to cover the whole of the Indian subcontinent with our extensive production footprint."

This is Constantia Flexibles Group's second acquisition in India after Parikh Packaging, which the Austrian flexible packaging major caused in 2013. Parikh Packaging'due south manufacturing plant is located near Ahmedabad in the western country of Gujarat. Parikh'due south new greenfield plant volition be coming up close to its current plant. Parikh is investing Rs 100 crore in the new greenfield site, which will exist dwelling to a polyethylene blown film extruder, high-definition flexo printing press and laminators that will produce high bulwark laminates that can be fully recycled. The extra capacity will come on stream in 2019.

Talking exclusively to Packaging South Asia, Pavan Parikh, managing managing director and vice president, Parikh Packaging, a part of Constantia Flexibles Group, said that initially the two entities—Constantia Parikh and Constantia Creative—volition office equally two separate units.

"To begin with, both Constantia Parikh and Constantia Artistic will exist identfied separately nether the larger Constantia Flexibles Group. The current senior direction of Creative Polypack will remain in place. Notwithstanding, both Constantia Parikh and Constantia Creative will piece of work very closely together from now on. If the two entities will exist merged in the future, that is for the Grouping to make up one's mind," Parikh says. The combined sales of Constantia Parikh and Constantia Creative will exist about EUR 110 million for the financial year 2017-2018, Parikh informs.

Echoing Baumgartner's sentiment, Parikh states that acquisition of Artistic will help Constantia Flexibles Group overstate its Indian footprint. "Now with this Constantia Flexibles Grouping volition have pan-India accomplish and will exist closer to its customers. This will help the company to be more competitive," Parikh shares.

Constantia Flexibles is the earth'south 4th largest producer of flexible packaging. Based on the guiding principle of 'People, Passion, Packaging,' some 7,200 employees manufacture tailor-made packaging solutions at 32 sites in eighteen countries. Many international companies and local market leaders from the food and pharma industries choose the sustainable and innovative products of Constantia Flexibles.

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Source: https://packagingsouthasia.com/packaging-production/constantia-flexibles-acquires-creative-polypack-group-in-india/

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