Seeking to strengthen its position in the Indian flexible packaging market, Siegwerk has signed a definite agreement to acquire Hi-Tech Inks, a move said to make the combined business ‘the largest player in the country’ with a market share of over 20%.
Siegwerk says that Hi-Tech Inks will add solvent and water-based inks, metallic and special-effect inks, varnishes, and over print varnishes (OPVs) to its global portfolio. The integration will expand Siegwerk’s manufacturing footprint in India with dual sites in Bhiwadi, Rajasthan and Vapi, Gujarat to improve capacity.
The combined organization is expected to employ approximately 1700 people across India. Completion of the transaction is expected in the coming weeks, subject to customary closing conditions.
“Hi-Tech Inks has built an impressive legacy of quality, agility, and customer focus, and we are delighted to welcome them into the Siegwerk family,” said Ashish Pradhan, president of Siegwerk Asia. “This acquisition will strengthen our position in India’s flexible packaging market and will expand our ability to serve customers with greater scale, capability, and innovation. Together, we will be well-placed to shape the next phase of growth for the industry.”
In related news, SIG opened its first production plant for aseptic carton packs in India last year. Completed in 20 months in Ahmedabad, it is hoped that the new plant will achieve shorter delivery lead times, greater responsiveness to market demand and enhance support for the country’s dairy and non-carbonated soft drink producers.
With India set to become the third-biggest global economy by the 2030s, what does packaging sustainability look like in one of the largest and fastest-growing consumer markets on earth? Rajesh Khosla, CEO of AGI Greenpac Limited, told us about the country’s paradigm shift in how packaging is perceived, produced, and consumed.
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