By: Satnam Singh
September 23, 2013
NEW DELHI — Flexible packaging giant Amcor Ltd. is looking to expand in India through another acquisition.
Melbourne, Australia-based Amcor is negotiating with Chennai, India-based Murugappa Group to buy its Tuflex division, which makes flexible packaging.
“We have signed an agreement in July to purchase [Tuflex’s] flexible packaging plant located in Gujarat,” said Ralf Wunderlich, president & managing director of Amcor Flexible Asia Pacific, in an email response to questions from Plastics News from his Singapore office.
Amcor is looking for bigger presence in India’s $30 billion packaging sector, which is growing 12 percent annually.
“We are looking forward to closing this transaction soon,” Wunderlich said.
Terms of the deal were not disclosed.
Amcor acquired Uniglobe Packaging Ltd. last year and before that Alcan Packaging — which included operations in India — in 2009. Amcor has plants in Daman, Chaken and Haridwar, India.