Weener Plastics Packaging Group acquires 100% of Weener Empire Plastics Ltd
The Weener Plastic Packaging Group from Germany has acquired the remaining shares of the Mumbai, India headquartered Weener Empire Plastics Ltd (WEPL) for an undisclosed amount.
The deal, completed on December 21, 2013, includes 7 factories across India. The Weener group had been a minority shareholder of WEPL for the past eight years. The Indian company manufactures plastic closures and containers for the personal care, food and pharmaceutical industry.
"This acquisition is aligned to our strategy of enhancing our footprint 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," Roel Zeevat, CEO of Weener Plastic Packaging Group, said in a statement.
Weener added that WEPL Managing Director A. B. Gupta and Director Abhinav Gupta will keep their current positions and stay in the board of the Indian operations.
The Weener Plastic Packaging Group designs, develops and manufacturers plastic packaging solutions for the personal care, food & beverage and home care industry.
