Greiner Packaging forms JV in India
In a bid to become a major player in the Indian dairy industry, German packaging supplier Greiner Packaging has established a joint venture with New Delhi-based Century Ultrapack, one of that country`s leading providers of plastic packaging.
The new venture is doing business under the name Greiner Packaging India Pvt. Ltd., with Greiner Packaging acquired majority ownership.
The JV follows Greiner Packaging`s expansion in Turkey last year. “We see a very high development and growth potential in India, where food packaging is concerned,” said Axel Kühner, chairman of the Greiner Group. “This expansion allows us to systematically pursue our globalization strategy and gives us even more opportunities to respond to the wishes of customers from abroad.”
The JV “will make it possible to supply large multinational customers in the country for the first time, greatly improving product quality and safety, and focusing on hygiene and production by modernizing the available infrastructure,” he continued. “In the first year alone, investments will also be made in a significant expansion of production capacities using Western technology.”