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Essel Propack buys UK's Telcon Packaging

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Our Corporate Bureau Mumbai
Last Updated : Feb 06 2013 | 8:20 AM IST
Essel Propack, the speciality packaging company promoted by the Essel group, has acquired the UK-based Telcon Packaging, a laminated tube supplier in the Europe.
 
The acquisition was through Essel Propack's Mauritius-based wholly-owned subsidiary Lamitube Technologies Ltd.
 
"The acquisition of Telcon Packaging is a continuation of our strategy for Europe and the US. With this move, we have set our feet firmly in UK market. We expect this step to result in further consolidation of laminated tubes manufacturing in Europe," Ashok Goel, vice chairman and managing director of Essel Propack said in a media statement.
 
According to the statement, this acquisition is a significant move to acquire new global customers.
 
Essel Propack will now possess the knowledge of the two prevalent technologies for making laminated tubes. Moreover, Essel Propack will leverage its global relationships with major customers to optimise the utilisation of the spare production capacity of Telcon Packaging.
 
This move provides Essel Propack with a local manufacturing base in UK which in turn will strengthen its position for winning contracts in UK and Europe. The release points out that this initiative is an indicator towards Essel Propack's consolidation in European market.
 
Essel Propack, with this acquisition, will not only be committed to job retention but will also be involved job creation at Telcon Packaging.
 
The plans for the improvement skills, adds the releaase, is on the anvil. Various efficiency improvement tools will be deployed by Essel Propack at Telcon Packaging in due course of time for the enhancement of employee skills and efficiency levels.

 
 

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