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Indian plastics packaging manufacturer Delta Thermoformers Ltd. has embarked on a joint venture with Zhejiang Xinyuanfang Plastic Co. Ltd, one of China's largest plastics manufacturers, to bring to market various types of plastic packaging products to Indian consumers. Both companies look to expand their footprints in other Asian markets.

Kari Embree

January 11, 2016

1 Min Read
Delta Thermoformers enters joint venture with Chinese firm

delta-thermoformer.jpgThis joint venture will allow Delta to manufacture and supply a wide array of plastic packaging products, such as thermoformed, vacuum formed blister packaging, PVC products such as rigid films, jumbo rolls, folding doors with glass, PVC films for floor board, printing, wood grain and other packaging products. As a result of the joint venture, Delhi will be poised to become one of the largest manufacturers of plastic packaging materials in India.

"This venture will bring in a range of international customers to Delta Thermoformers which will also support Zhejiang to emerge as a global leader. The joint venture company plans to achieve its revenue target by serving range of existing and new products for companies in India, China and the rest of the world. The growth will also provide sound employment opportunities to the skilled manpower. Through this, we would serve the ever growing packaging demand for food, pharmaceutical and other industrial customers. This venture will give Delta Thermoformers an edge over its competitors in this space and will capture large share of market over the next five to seven years," said Mohammed Arif, Director, Delta Thermoformers Ltd.

The partnership is expected to generate total revenue of of nearly $100 million. Delta will be using state of the art technology and high end machines supplied by Zhejiang. Manufacturing activities will be carried out from the existing plant of Delta Thermoformers, located in  Vasai, Maharashtra.

The deal was structured by Alcor Mergers and Acquisitions.

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