Industry Updates
Take a look at some of the new ventures and JVs in packaging industry
Ess Dee Aluminium has taken over the Kolkata-based aluminium foils maker India Foils from the Vedanta group. Ess Dee would pay Rs. 120 crore for acquiring 90 percent stake in India Foils. Of this, it would acquire a 45 percent stake through subscription of fresh shares, while the other 45 percent would be through direct purchase of the equity of Malco, which is the promoter of India Foils. As part of the transaction, Malco has agreed to clear India Foils\' Rs. 240-crore dues to banks and financial institutions.
In another instance, Kodak, expanded its solutions for the packaging industry through its acquisition of certain assets of NuPro Technologies Inc., a company specialising in processing chemistries and solvent reclamation equipment for flexographic printing. The unique products of NuPro complement Kodak\'s Graphic Communications Group\'s existing portfolio of computer-to-plate products, printing plates, workflow, screening technologies, film, and proofing solutions for the packaging industry, including the award-winning Kodak Flexcel NX Digital Flexographic System. NuPro\'s innovative products will contribute to Kodak\'s position as a technology leader in packaging.
Alcan Packaging, the global flexible packaging giant, has recently acquired the Chakan plant (near Pune in Maharashtra) of ACG Worldwide (the Associated Capsules Group). This plant prints and laminates flexible packaging. It specialises in rotogravure printing in up to 9 colours, dry and wet lamination using solvent-based and water-based adhesives and solventless lamination. It is a very strong supplier to the pharmaceutical industry and also caters to the requirements of the food and FMCG industries (confectionery, snack foods, chocolates, oils, soaps, detergents etc.).
