Essel Propack expands into flexible packaging

Essel Propack (Mumbai, India), the world''s largest manufacturer of laminated tubes with manufacturing in 13 countries through 24 plants, is acquiring a 100% stake in flexible packaging processor/converter Packaging India Private Limited (PIPL; Pondicherry).

Ashok Goel, vice chairman and managing director of Essel Propack, said, "This is a significant step in our product-diversification strategy. With the pharma and retail markets poised for tremendous growth [in India], demand for specialty packaging materials is slated to rise high. This is the opportune time for us to step in and leverage the opportunities." PIPL is the third largest producer of flexible packaging in India.