Germany-based BOPP film maker Treofan Group says it has called off the deal to acquire Indian Max Specialty Films, a subsidiary of New Delhi-based Max India. Both parties have mutually called off negotiations that had been ongoing for about two years.

“Within the framework of our new corporate strategy, the focus currently is clearly on successfully restructuring and profitably growing our core businesses in Europe and the Americas,” commented Peter Vanacker, who took over as Treofan CEO in September 2012.

“We are also growing our global presence by establishing an intelligent structure that, in a first phase, will primarily aim at creating strategic cooperation or license agreements with trusted partners. This provides us with the flexibility needed, considering the most recent changes in global BOPP business.”

“Our continued cooperation with Max Specialty Films, of course, forms part of this concept,” said Vanacker. Max India has announced it plans to transfer the Max Specialty Film division into a separate subsidiary.