Mumbai based Delta Thermoformers inks Joint Venture with China based Zhejiang Xinyuanfang Plastic Co
Author(s): City Air NewsMr Mohammed Arif (Director of Delta Thermoformers) at extreme Right (4th), Thomas Mathew of ALCOR Fund (2nd) with Chinese Co. President & MD. Mumbai, January 1, 2016 : Aiming to become a major player in plastic...
cityairnews
Jan 1, 2016 12:30
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Mr Mohammed Arif (Director of Delta Thermoformers) at extreme Right (4th), Thomas Mathew of ALCOR Fund (2nd) with Chinese Co. President & MD.
Mumbai, January 1, 2016 : Aiming to become a major player in plastic packaging segment in India, Mumbai based Delta Thermoformers Ltd has entered into a Joint Venture with a China based major, Zhejiang Xinyuanfang Plastic Co Ltd, to manufacture and supply various types of plastic packaging products such as Thermoformed, Vacuum formed Blister Packaging, PVC Products such as Rigid films, Jumbo Rolls, Folding Doors with Glass, PVC Films for Floor Board, for Printing, for Wood Grain and other Packaging Products.
The objective of both partners is to enter into a Joint Venture is to become a market leader in the plastics packaging industry. This partnership would entail the JV Company to offer a very wide range of plastic packaging products to the market, using State of the Art Technology and high end machines brought in by Zhejiang to the JV Company, thereby being able to cater to the growing Indian market.
The Venture is projected to generate total revenue of up-to US$ 100 million (Rs.650 crore). The main focus of the Venture will be to develop & offer a broad portfolio of quality products to major domestic as well as multinational companies present in India and Asia. The Venture will carry out its manufacturing activities from the existing plant of Delta Thermoformers, located in the industrial hub of Vasai, Maharashtra.
The Joint Venture deal is structured by ALCOR Mergers and Acquisitions Pvt. Ltd., a portfolio company of ALCOR Fund.
While speaking to media Mohammed Arif – Director, Delta Thermoformers Ltd said “This Venture will bring in a range of International customers to Delta Thermoformers which will also support Zhejiang to emerge as a global leader. The joint venture company plans to achieve its revenue target by serving range of existing and new products for companies in India, China and the rest of the world. The growth will also provide sound employment opportunities to the skilled manpower. With this joint venture in place, we are all set to serve the ever growing packaging demand for food, pharmaceutical and other industrial customers. This Venture will give Delta Thermoformers an edge over its competitors in this space and will capture large share of market over the next 5 – 7 years.”
Mr. Huang Yuan Fang, President - ZHEJIANG XINYUANFANG PLASTIC CO. LTD stated – “I look forward to have a handsome growth from the venture in India to address South Asian customers and also plan to address the high quality requirements of global companies. In order to get market leadership in Asia, Zhejiang which is already a leader in China, entered into a joint venture with Delta Thermoformers to capture the massive opportunity to grow together”.
Speaking on the occasion, Mr. Thomas Mathew, Director - ALCOR Fund, said “ALCOR is a leading investment bank and has been instrumental in structuring joint ventures of Indian companies with global companies for rapid growth. ALCOR Fund has seen India as a great destination to invest. This Venture, besides bringing in foreign earnings for India, will support our Honorable Prime Minister’s drive of “Make in India”.
Date:
Friday, January 1, 2016
