The acquired business includes Oriental Containers, manufacturer of plastic caps & closures and preforms, primarily used in beverages.
Manjushree Technopack Limited (MTL) announced on April 11 that it has entered into definitive agreements to acquire the plastics packaging business of Oricon Enterprises Limited for an Enterprise Value of Rs 520 crore.
The acquired business includes Oriental Containers, manufacturer of plastic caps & closures and preforms, primarily used in beverages.
This transaction will double MTL’s current market share in the caps and closures segment, with an installed capacity of nearly 15Bn pieces per annum, MTL also stated.
The acquisition comprises two manufacturing plants located in Goa and Odisha.
Source : Moneycontrol
