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Manipal Technologies Ltd, the print solutions company, has announced the process of merging its packaging businesses with Utility Printpack Pvt Ltd, the Gujarat-based packaging solutions provider.
Sagar Mukhopadhyay, Vice-President (Corporate Affairs) of the Manipal Group, told Business Line that the combined entity — Manipal Utility Packaging Solutions Pvt Ltd – would be the integral part of the Manipal Group. The entity will have manufacturing operations in Manipal, Ahmedabad and Chennai. It will also leverage on the packaging business presence of Manipal Group in Kenya and Nigeria.
Asked about the shareholding pattern and the transaction details of the merger, Mukhopadhyay said these details could not be revealed due to strategic reasons.
He said that the existing packaging business of the Manipal Group operates in India and Africa. The deal will enable it to enhance the growth prospects of the domestic and export packaging business, as it brings focused packaging business development and product development capabilities and the manufacturing infrastructure in Gujarat.
The Manipal Group believes that packaging will be the new sunrise sector in the print solutions industry as this sector will ride on the impending consumption boom in India that will be fuelled by the entry of multinational retailers in India, he said.
Indian consumers are becoming more and more discerning in their consumer products packaging needs. The FMCG companies and organised retailers want partners who can offer benefits of scale with multiple manufacturing capabilities as well as deep domain knowledge and innovative products, he said.
Quoting Gautham Pai, Managing Director of MTL, a statement by the company said: “Packaging solutions is identified as one of our high growth businesses for the future, and we aspire to build a global packaging business spanning emerging markets in Asia, Africa and Middle East. The partnership with Utility Printpack Pvt Ltd provides us the capabilities to accelerate the growth and achieve our long-term vision in this business.”
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