Siegwerk gains major foothold in India.
Siegwerk has fully acquired PIBU Ink India, which is now a 100 percent member of the Siegwerk Group. The company's new name is Siegwerk India Private Limited.
"This is a huge success for our Asian strategy, as the acquisition significantly strengthens our position in one of the world's biggest and most dynamically growing markets," said Siegwerk CEO Herbert Forker. "With a market volume of 100,000 tons and expected annual growth rates of 12 to 15 percent, there is enormous growth potential for us here, especially in the labels, UV, and flexible packaging business."
Siegwerk is well known for such values as quality, reliability and proximity. As a family-owned business Siegwerk is proud of its dedicated employees. With their passion for individual solutions and long-term orientation they are eager to satisfy the customer's needs.
With more than 200 employees, Siegwerk India is headquartered in the capital city of New Delhi. Vijay Gupta has been appointed CEO of the company. The main production site is in Bhiwadi in northern India with a wide network of regional offices and color centers across the country.
The production range offers a wide variety of high quality ink solutions for sheetfed, UV, labels, tobacco and liquid food packaging. "We are not currently represented in flexible packaging, which is the largest packaging ink market in India, since the local market uses 100 percent toluene-based inks," Mr. Gupta said. "Therefore, we have great opportunities in this segment by introducing our toluene-free inks, thereby upgrading the market with our expertise and world class technology."
PIBU Ink India had been formed as a joint venture between the former Sicpa Packaging and Indian business partners in 1992. Following the takeover of Sicpa Packaging in September 2005, Siegwerk acquired half the shares in the company, and closed the sale of the remaining shares as of Oct. 5, 2007. It's Siegwerk's biggest acquisition since the Sicpa takeover.
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|Title Annotation:||fresh INK|
|Date:||Dec 1, 2007|
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