Jindal Films acquires European business
M&C S.P.A., the owner of Treofan Holdings GmbH (Raunheim, Germany), has sold its majority stake in Treofan Europe to Jindal Films, an Indian film and label manufacturer.
The legally binding agreement was signed on Monday 6 August. The acquisition is expected to be completed before the end of the first quarter of 2019, subject to all regulatory approval and closing procedures.
Jindal Films is a world leader in the development and manufacture of special biaxially oriented polypropylene films (BOPP) and has production facilities in India, Europe and the USA. The company and its affiliates have sales offices around the world, including in the Americas, Europe and Asia. In total, the group employs approximately 3000 people.
"The acquisition of Treofan by Jindal Films will open doors for a new global strategy for the company and its employees," comments Dr Walter Bickel, CEO of Treofan. "At the same time I would like to thank our current shareholder M&C for his commitment and support over the past decade.