Huhtamaki to acquire Positive Packaging for Rs 2,009 crore

Positive Packaging is part of the Enpee group of companies, promoted by N P Kirpalani, a non-resident Indian based in Nigeria. It has nine manufacturing facilities in India and the United Arab Emirates as well as significant business in Africa and other export markets.

Jukka Moisio, chief executive officer, Huhtamäki Oyj said, "The acquisition further enhances our position in India and provides us with much improved access to the fast growing markets of Africa and Middle East. Many of our global customers are investing heavily to grow in these markets, and now we are even better resourced to help them grow." 

According to a company statement, the annual net sales of the business to be acquired are approximately Rs 1,789 crore (EUR 220 million) and it employs approximately 2,500 people in India and UAE as well as in the sales offices in seven countries.

"Positive Packaging's expertise in high quality printing and cylinder making, as well as their strong focus on innovations are a perfect fit for Huhtamaki's growth strategy," said Shashank Sinha, executive vice president, flexible packaging, Huhtamaki.

Positive Packaging - Factfile
A decade ago, in April 2002, Positive Packaging announced the acquisition of Indian flexible packaging manufacturer-ICM Packaging; and in July 2009, Vista Film & Packaging, a manufacturer of CPP films and associate of PPIL, was amalgamated into PPIL. In 2012, Positive acquired Bengaluru-based label printing firm SGRE Labels.

Positive was set up in 1994, and manufactures manufactures multi-layer laminated, printed, and metallised films using bi-axially-oriented poly-propylene, polyester film, and aluminium foil. It also manufactures rotogravure-printing cylinders and laser-engraved printing cylinders, metallised films and cast poly-propylene (CPP) films.

PPIL has an annual manufacturing capacity of 31,800 tonnes of laminates, 55,000 units of rotogravure-printing cylinders, 9000 tonnes of metallised film, 5400 tonnes of CPP, and 12,000 units of base shells.

The company has flexible-packaging plants in Khopoli (near Mumbai), electronically/laser engraved cylinder-manufacturing plants in Taloja and Bengaluru, a metallising plant in Taloja, a CPP plant in Ambernath, and base shell manufacturing facility at Bengaluru.