After being a minority shareholder for 8 years, the Weener group, a German based globally active corporation, has acquired the remaining shares of the Mumbai headquartered Weener Empire Plastics Ltd for an undisclosed amount. The deal includes 7 factories across India. This is the next step in the global expansion of the Weener group, which enables Weener to support customers on a global scale and to speed up growth in the emerging markets. The transaction was completed on 21st December 2013.
"This acquisition is aligned to our strategy of enhancing our footprint in the emerging markets. WEPL has performed well in the past years and we target to add to this growth further in the coming years," Roel Zeevat, CEO of Weener Plastic Packaging Group, said in a statement. Weener Empire Plastics manufacturers plastic closures and containers for the personal care, food and pharmaceutical industry.
Managing Director Mr A. B. Gupta and Director Abhinav Gupta will keep their current positions and stay in the board of the Indian operations. The group is now looking at increased focus on organic growth through existing and new customers in the fast changing Indian market.
The Weener Plastic Packaging Group (headquartered in Weener, Lower Saxony, Germany and founded in 1960) designs, develops and manufacturers innovative plastic packaging solutions for the personal care, food & beverage and home care industry. The company employs 2000 people and has 31 facilities in 20 countries around the world.
23 Dec 2013
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