MUMBAI — Bobst Mex SA, a Switzerland-based maker of machinery used by converting and packaging companies, is scouting for a possible acquisition in India.
The Lausanne-based company believes India is a strategic market for future growth.
“India is key market for us and we are looking for potential acquisition in flexible packaging,” Eric Pavone, business director for BU Web-Fed, told Plastics News at the recently concluded Film and Flexible Packaging Conference in Mumbai.
“It could happen any day, this year or next year,” he said.
Bobst entered the India market about 15 years ago and later set up a plant in Pune in 2001 under the Bobst India Private Ltd., manufacturing cutters and related equipment.
“We have around 60 people working in product, engineering, sales and services division to support our presence in India,” Pavone said.
Bobst has a presence in 50 countries, including 11 production facilities in eight countries.
Pavone said business conditions in India are poor now, with the rupee recently losing value against the dollar and the euro. But Bobst continue to retain faith in India.
“India is a growing market and medium- and long-term perspective remains positive and that is the reason for our expansion plans,” he said.
Bobst generates about half of its revenue from Asia, including China, India and Southeast Asia.
Earlier this year the company started offering a certificate program for converting technicians in Pune, India.