Tecnocap lands in India to produce lug caps
Tecnocap, a global player of metal packaging, has announced its entry into India, where it will be producing lug caps. The company has signed a joint venture with the Indian packaging producer Oricon Enterprise.
According to the agreement, the two partner companies have set up the Tecnocap Oriental 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”, commented Michelangelo Morlicchio chief executive, shareholder and founder of Tecnocap who added: “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.”
Tecnocap is a global metal packaging manufacturer, specialized in the production of lug caps for glass jars and plastic containers. Here, they are the third biggest producer of closures for food, baby food and beverage packaging. The Group is also emerging as a global leader for integrated packaging solutions, i.e. aluminum monobloc aerosol cans and aluminum bottles for some of the world’s best-known consumer brands in food, beverages, spirits, cosmetics, nutraceuticals, pharmaceuticals, industrial and household products. Tecnocap works closely with our customers to support them in reaching their sustainability targets by providing responsible packaging solutions. Sustainability is a key point for all our activities and strategic decisions.
Corporate website: www.tecnocapgroup.com.