 "Century Ultrapack and Greiner Packaging officials")
The New Delhi-headquartered Century Ultrapack, owned by the Bajaj family, has joined hands with the Austrian plastic packaging manufacturer Greiner Packaging to form a joint venture Greiner Packaging India Pvt Ltd in India.
Century Ultrapack provides disposable food packaging materials (plastics cups & containers) to dairy and fast-food industries. The JV is expected to help Greiner Packaging, who will have majority ownership in the venture, to broaden its market position in Indian food packaging industry.
On the heels of its expansion in Turkey last year, Greiner Packaging is thus taking another step toward the growing Asian markets. “We see a very high development and growth potential in India, where food packaging is concerned. It is important for us to take a leading role early on in the region. This expansion allows us to systematically pursue our globalisation strategy and gives us even more opportunities to respond to the wishes of customers from abroad,” said Axel Kuhner, chairman of Greiner Group. The acquisition reflects the company’s medium-term strategy to grow beyond the borders of Europe in the future.
The goal of the joint venture is to be able to offer Greiner Packaging’s high standards in India as well. This will make it possible to supply large multinational customers in the country for the first time, greatly improving product quality and safety, and focusing on hygiene and production by modernising the available infrastructure. In the first year alone, investments will also be made in a significant expansion of production capacities using Western technology.
Century Ultrapack, which supplies to customers such as Mother Dairy, Amul, Pepsico, etc in North India, has portfolio of over 250 different packaging products, mainly for milk products and ice cream.
“This new partnership in India underlines the successful international path that we are currently moving along together with Greiner Packaging. Customers of both companies will profit in the region in the future, thanks to an efficient international site network, supply reliability, technology advancement, and the utmost strength in innovation,” added Manfred Stanek, CEO of Greiner Packaging International.
