Print solution provider Manipal Technologies Ltd (MTL) is merging its packaging businesses with Ahmedabad-based packaging solutions specialist Utility Printpack, a statement said.
“The aim of the partnership is to create a unique platform to provide customers with world-class technology with multi-location production facilities and offer a larger gamut of products and services together,” the statement said.
Post merger, the combined entity will be called Manipal Utility Packaging Solutions Ltd and will have manufacturing operations in Ahmedabad, Manipal and Chennai. Also, the entity will expand its footprint to Kenya and Nigeria.
“Packaging solutions is identified as one of our high-growth businesses for the future, and we aspire to build a global packaging business spanning emerging markets in Asia, Africa and the Middle East. The partnership with Utility Printpack provides us the capabilities to accelerate the growth and achieve our long-term vision in this business,” Gautham Pai, managing director of MTL, said, while announcing the partnerships.
Founded in 1991, Utility Printpack is involved in super-specialised luxury packaging supply. The Mumbai-based company, headed by Manoj Mehta and Jinesh Mehta offers gloss/matte, pearlescent, glitter, abrasive, and leather coating cartons. It serves industries like perfumes, cosmetics, personal care, food, and pharmaceuticals.
(Edited by Joby Puthuparampil Johnson)