Tecnocap Announces Joint Venture with Oricon Enterprises

According to the agreement, the two partner companies have created a new company, Tecnocap Oriental Pvt., based in Mumbai, controlled at 75% of the share capital by the Tecnocap Group through the acquisition of the Metal Lug business of the Indian partner Oricon, which will hold the remaining 25% of the Company.

“This joint venture marks our full entry into the Indian and Far Eastern markets and represents a key stage in our international growth strategy, achieved through business diversification and expansion towards high growth markets”, comments Michelangelo Morlicchio CEO, shareholder and founder of Tecnocap who continues: “beyond seizing the great opportunities for market growth, this alliance gives us the chance to exploit mutual synergies to operate successfully thanks to the highest quality products, services and logistics.”

Source: Packaging World

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