2013-2014 Exhibitions
India-based flexible packaging films producer Jindal Poly Films has completed the acquisition of ExxonMobil's Global business of BOPP films, with effect from Oct 1, 2013. The deal of US$235 million covers five BOPP production locations in the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in Italy, the Netherlands, and Belgium in Europe. It also includes a technology centre and sales office in Rochester, New York, and an office in Luxembourg. Approximately 1,500 people work in those operations.
This acquisition will make Jindal one of the leading manufacturers of flexible packaging films globally with a combined capacity of approximately 445,000 tonnes/year for BOPP films.
Jindal is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. Jindal has the world’s single largest site for production of BOPP and BOPET films at Nasik, India. Its annual sales turnover as on March 2012 was US$452 million.
(PRA)
