Tecnocap Announces Indian JV Tecnocap Oriental
Italy-headquartered Tecnocap has announced its entry into India with a joint venture called Tecnocap Oriental. The company recently signed an agreement towards this with the Indian packaging producer Oricon Enterprise. According to the agreement, the two partner companies have set up the Tecnocap Oriental based in Mumbai. Tecnocap will have the control of 75% of the share capital through the acquisition of the metal lug business of the Indian partner Oricon, which will hold the remaining 25% of the company.
Tecnocap develops and manufactures functional, attractive and reliable metal closures, aluminium aerosol cans and bottles, enabling worldwide customers to build their brands, to protect the integrity of their products and guarantee the safety of consumers.