After being a minority shareholder for eight years, the Weener Plastic Packaging group has acquired the remaining shares of Mumbai-headquartered Weener Empire Plastics Ltd for an undisclosed amount.
Weener Empire Plastics (WEPL) manufacturers plastic closures and containers for the personal care, food and pharmaceutical industries.
Including seven factories across India, the move is the next step in the global expansion of the Weener group, according to the Germany-based corporation.
Completed on 21 December 2013, the acquisition will enable Weener to support customers on a global scale and to speed up growth 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,” said Roel Zeevat, CEO of Weener Plastic Packaging Group, in a statement.
WEPL managing director Mr AB Gupta and director Abhinav Gupta will keep their current positions and remain on the board of the Indian operations.
The group is now looking to increase its focus on organic growth through existing and new customers in the fast-changing Indian market, the company says.
The Weener Plastic Packaging Group designs, develops and manufacturers innovative plastic packaging solutions for the personal care, food & beverage and home care industries.
In June 2013, Plasticum Group was integrated into the Weener Plastic Packaging Group. Overall, the company employs 2000 people and has 31 facilities in 20 countries around the world.
