Constantia Flexibles announces new packaging joint venture
The JV for its Indian business and operations is with Premji Invest and SB Packagings.
In a move that aimed at growing its business in the Indian market, flexible packaging supplier Constantia Flexibles has signed a joint venture (JV) agreement for its Indian business and operations with Premji Invest and SB Packagings.
In a news release, officials with Vienna, Austria-based Constantia said the JV is pursuing organic as well as inorganic growth in higher added value market segments in India, continuing what it called a “strong growth trajectory” in the hygiene segment while also developing the more sustainable mono-material EcoLam product range.
“As SB Packagings is a leading player in the hygiene segment, the new partnership will help extend [our] portfolio,” the release said.
The closing of the joint venture agreement is expected to be completed by the end of March, pending regulatory approvals.
SB Packagings was founded in 1989, and is said to be one of the leading flexible packaging companies based out of India, specializing in hygiene packaging and the food and beverages space.