Constantia Flexibles sets Indian JV

Vienna, Austria-based flexible-packaging converter giant Constantia Flexibles signs a joint venture agreement for its Indian business and operations with Premji Invest and. SB Packagings. The deal will help Constantia Flexibles (above) meet its ambition to grow further and create greater value in the Indian market. 

“I am very pleased to partner with SB Packagings and Premji Invest,” says Pim Vervaat, CEO of Constantia Flexibles. “I have the greatest respect for SB Packagings’ achievements and look forward to the joint venture, supported by Premji Invest, to grow the combined business profitably.”

The JV is pursuing organic as well as inorganic growth in higher added-value market segments in India, continuing its strong growth trajectory in the hygiene segment while it further develops the more-sustainable, mono-material EcoLam product range. With the new partners, Constantia Flexibles is able to strengthen its business in the region and various market segments. As SB Packagings is a leading player in the hygiene segment, the new partnership will help extend Constantia Flexibles’ portfolio.

The closing of the JV is expected by the end of March, pending regulatory approvals.