Nip Impressions logo
Sun, Dec 8, 2024 15:46
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Rengo Acquires Stakes in Manufacturer of Corrugated Packaging in India

Rengo Co., Ltd. announces that it has acquired 30% of the shares in Velvin Containers Private Limited, a corrugated packaging manufacturer in India. Due to Rengo's equity participation, the company will change its name to Velvin Rengo Containers Private Limited.

The company is part of Velvin Group, which manufactures and sells corrugated packaging, paper bags, paper cups, etc. in Mumbai, Goa, and Pune in western India, and was established near Chennai in Tamil Nadu to expand business in southern India. The company is currently constructing a corrugated plant with the aim of starting partial operations in March 2024.

India now has the world's largest population as of 2023 and is actively promoting its manufacturing industry, so demand for the corrugated packaging market is expected to grow significantly. Rengo's equity participation in the company will produce synergies with Rengo Group companies in Japan and overseas and further enhance Rengo's global strategy.

#pulpandpaper

Paperitalo newsletters: Cost zero, value immeasurable. Sign up today.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: