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Category: Essel Propack

  • Essel Propack ‘s Global Sales register 32% growth in the Third Quarter ended September 30, 2006

    Mumbai, October 18, 2006 : Essel Propack, the global leader in laminated tubes packaging, posted a significant growth of 32% in Net Sales, touching Rs. 2,769 Mn during the Third Quarter of 2006 over the corresponding quarter of 2005. During the quarter under consideration, EBIDT grew to Rs. 689 Mn marking 21% growth and Net Profit (before extraordinary item) grew to Rs. 279 Mn marking a growth of 20% over the corresponding quarter of 2005. The consolidated results of Q3 2006 when compared with the previous sequential quarter ended June 30, 2006, reflect a growth of 20% in Net Sales, 21% in EBIDT and 21% in Net Profit (before extraordinary item).

    While announcing the Third Quarter results in Mumbai, Ashok Goel, the Vice Chairman & Managing Director said, “While registering a consistent growth, we have begun the expansion in plastic tubes business in the global arena. We have four revenue streams namely Laminated Tubes, Plastic Tubes, Medical Devices and Speciality Packaging Materials, thus giving us multiple opportunities for growth. Our objective is to grow along these verticals globally”.

    The business in all the regions continue to be robust and in line with expectations.

    “We expect improved Sales Revenues by Q1 ’07 from the expanded capacity from the Laminated and Plastic Tube operations in Europe”, said R. Chandrasekhar, President, Essel Propack.

    The Greenfield plant project of Plastic Tube in USA is on schedule and will be commissioned by year end.

    The Medical devices business is doing well and one can expect improved revenues in the coming months.

    Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated tubes, plastic tubes, medical devices and speciality packaging materials. The Company provides tube packaging solutions to toothpaste, pharmaceuticals, cosmetics, toiletries, food and industrial sectors all over the world. In Medical Devices, the company manufactures cardio-vascular catheters and delivery systems. The Speciality Packaging Materials of the company caters to the food industry with definitive plans for meeting the needs of Pharma industry. The Company has state-of-the-art manufacturing facilities in 13 countries with 24 plants across the globe. Essel Propack’s stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

  • Essel Propack announces entry into Poland

    Mumbai, August 2, 2006: Essel Propack, world’s leading speciality packaging company and the largest manufacturer of laminated tubes, has announced the plans for setting up manufacturing operations in Poland. This plant will be its 25th globally, extending the company’s geographical reach into a 15th country. The new plant will be under the brand Arista Tubes, UK, the leading manufacturer of plastic tubes in UK and Europe. The plant will be operational during March 2007. This plant will primarily cater to the Cosmetics and Toiletries industry of Europe.

    Announcing the significant strategic move in Mumbai, Ashok Goel, the Vice Chairman and Managing Director of Essel Propack said, “Our strategic intent, as we have expressed earlier, is to focus our energies on Europe for enhanced growth. Moreover, plastic tubes is the path we have chosen for inducing this growth. I am very happy to announce the setting up of this new facility that will help us to expand and consolidate our presence in the region.” Jeremy Paul, Global Head – Plastic Tubes, who will be driving the implementation of this project said, “Europe is the largest market for plastic tubes globally. Also, Poland is the largest market in Eastern Europe exhibiting a faster growth rate than the rest of Europe. Hence, Poland is the ideal location for tapping the potential of Europe. ”

    The plant in Poland is Essel Propack’s fourth new venture during the last 2 years. This move is a part of Essel Propack’s global vision to establish itself as a leading player in plastic tubes across all geographies by 2010 with 20% market share. The plant will be set up with a capital cost of 23 Million USD, which will be partly funded by operating leases and partly by debt.

    Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated and plastic tubes. The Company provides packaging solutions to toothpaste, pharmaceuticals, cosmetics, food and Industrial sectors all over the world. In April 2006, the Company forayed into Medical Devices business. The Company has state-of-the-art manufacturing facilities in 14 countries with 24 plants across the globe. Essel Propack’s stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

  • Essel Propack expanding into Speciality Packaging Materials Acquiring Packaging India, Pondicherry

    Mumbai, August 30, 2006 : Essel Propack, world’s largest manufacturer of laminated tubes, with manufacturing in 13 countries through 22 plants, is acquiring 100% stake in Packaging India Private Limited (PIPL), Pondicherry. Packaging India, a proven player in the manufacturing of speciality packaging materials, is a part of FMCG major CavinKare Group, Chennai.

     

    While announcing the acquisition in Mumbai, Ashok Goel, the Vice Chairman and Managing Director of Essel Propack said, “This is a significant step in our product diversification strategy. With the Pharma and Retail market poised for tremendous growth, the demand for Speciality packaging Materials is slated to rise high. This is the opportune time for us to step in and leverage the opportunities.” Explaining the logic of the divestment, C. K. Ranganathan, Chairman & Managing Director of CavinKare Group said, “This was a concerted move towards unshackling growth at PIPL. Considering the heritage of PIPL, the Company was at a point of inflection in terms of growth. Hence, it was realized that PIPL has to align itself with another packaging company to achieve its true growth potential. Now the company will aggressively target growth in sectors such as Pharma, Food, Retail, Exports and others.” Speaking of the acquisition R. Chandrasekhar, COO, Essel Propack said, “Packaging India and Essel Propack has great many synergies which make this a perfect buy. The two organizations have many similarities, foremost being the organizational ethics, culture, the approach to business, knowledge base, market reputation and the burning desire to grow.”

     

     

    PIPL was established in 1990 as a part of Chennai based CavinKare group. Today, it is the third largest producer of speciality packaging materials in India, offering innovative packaging solutions. PIPL enjoys a leading market position in the southern part of the country with substantial breadth, state-of-the-art technology, unmatched product development expertise, and strong relationships with a highly diversified, blue chip customer base. The present team at the Company, headed by T. D. Mohan, the Managing Director, will continue to manage the operations of the Company, under the guidance of Essel Propack.

     

    The core synergies between PIPL and Essel Propack can be broadly termed as:

    High-end lamination technology for speciality materials Knowledge of requirement of Barrier Properties OEM business model Highest standards of quality and manufacturing systems Expanded product portfolio to enable better service to a common customer profile Leveraging medical relationship to service each other’s customers Tapping the global customer base of Essel Propack to expand PIPL’s customer base

    Creativity & Innovation is poised to take the centre stage in the field of Packaging. The market demands are poised towards new trends, sophistication, and user-friendliness. These needs can only be met by superior manufacturing environment, high profile features and finer processes. Essel Propack and PIPL are focused on creating such a discipline in the manufacture of Speciality Packaging Materials.

     

    We express our sincere thanks to the legal advisors ANS Law associates, advisors to the deal Bellwether Capital and Deloitte Haskins & Sells who did the financial due diligence.

     

    Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated and plastic tubes. The Company provides packaging solutions to toothpaste, pharmaceuticals, cosmetics, food and Industrial sectors all over the world. Recently, the Company forayed into Medical Devices business. The Company has state-of-the-art manufacturing facilities in 14 countries with 24 plants across the globe. Essel Propack’s stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

     

     

    Press contacts : Mumbai : Ramdas Warrier – 98209 04179; Delhi : Chetan Saxena @ 98113 23282

     

     

    Ramdas WARRIER
    Manager – Corporate Communications
    Essel Propack Limited
    Continental Building, 135,
    Dr. Annie Besant Road,
    Worli, Mumbai 400 018.
    Tel. Board : +91 – 22 – 5653 5653 Ext. 5599
    Tel. Direct : +91 – 22 – 2495 0501; 5653 5599
    Fax : +91 – 22 – 2496 3137
    Cell : +91 – (0)98209 04179
    E-mail : ramdas.warrier@ep.esselgroup.com
    Website : www.esselpropack.com