GREINER PACKAGING: New plastic packaging joint venture in India / Latest move towards growth further east
Taking another step towards the growing Asian markets, Greiner Packaging International (GPI, Kremsmünster / Austria; www.greiner-gpi.com) has set up a joint venture in India. Located in New Delhi, Greiner Packaging India is majority owned by the Austrian group, and operated as a jv with Century Ultrapack (New Delhi / India; www.centuryultrapack.com), which specialises in plastic packaging for the dairy industry. Financial details were not disclosed.
Part of GPI’s medium-term strategy to grow its business beyond Europe, the jv will offer products meeting the company’s standards in India for the first time. “We see a very high development and growth potential in India, where food packaging is concerned. It is important for us to take a leading role early on in the region, said GPI chairman Axel Kühner. Only last year, Greiner widened its footprint in Turkey by acquiring the majority share in Turkish dairy packaging producer Teknik Plastik (Istanbul; www.teknikplastik.com.tr) – see Plasteurope.com of 22.06.2015.
Founded in 1980, Century Ultrapack’s 135 employees produce plastic packaging for a range of key industry players in the region, including Mother Dairy, Amil and Pepsico. The company’s portfolio includes more than 250 different products, mostly for the ice cream and milk markets.
