Greiner Packaging has established a joint venture (JV) company in India, in a bid to expand its operations in the country.
The European company, along with Indian plastic packaging firm Century Ultrapack, has established a new JV firm Greiner Packaging India Pvt. Ltd.
Greiner Packaging is the majority shareholder in the new JV firm, which will supply products to the multinational customers in the country.
In the first year only, the partnership will invest on Western technology to expand production capacities at the new facility.
Greiner Group chairman Axel Kühner said: “We see a very high development and growth potential in India, where food packaging is concerned. It is important for us to take a leading role early on in the region.
“This expansion allows us to systematically pursue our globalization strategy and gives us even more opportunities to respond to the wishes of customers from abroad.”
Greiner Packaging International CEO Manfred Stanek said: “Customers of both companies will profit in the region in the future, thanks to an efficient international site network, supply reliability, technology advancement, and the utmost strength in innovation.”
Based in New Delhi, Century Ultrapack provides plastic packaging solutions to the dairy industry in the country.
The company produces around 250 different packaging products for milk products and ice cream
With locations in 18 countries, Greiner provides plastic packaging solutions to the customers in food and non-food sector.
