Indian flexible packaging films producer Jindal Poly Films has announced the acquisition of the Global biaxially-oriented polypropylene (BOPP) films business of the US-based ExxonMobil Chemical for about $235m.
With the latest acquisition, the combined capacity of Jindal is about 445,000t per annum for BOPP films.
Expected to close by the end of July 2013, the transaction covers five BOPP production locations in the US and Europe.
The manufacturing sites are located in Georgia and Oklahoma in the US and in Italy, the Netherlands, and Belgium in Europe.
According to Jindal, the deal also includes a technology center and sales office in Rochester, New York, as well as an office in Luxembourg.
Jindal Poly Films is a part of the diversified B C Jindal group which has interests in flexible packaging, photographic products, thermal power generation and steel products.
