M&C S.P.A., owner of Treofan Holdings GmbH, has made a legally binding agreement to sell its controlling stake in Treofan Europe to Jindal Films, an Indian film and label manufacturer. The agreement signed on Monday, 6 August, expects the transaction to be closed before the end of the first quarter of 2019, subject to regulatory approval and closure procedures.
A global leader in the development and manufacture of specialty biaxially oriented polypropylene (BOPP) films, Jindal Films, and has a number of production facilities in a large number of countries such as India, Europe and in the United States. The company and its affiliates have around 3,000 sales offices around the world, including North and South America, Europe and Asia.
Dr. Walter Bickel, CEO of Treofan, commented, “The takeover of Treofan by Jindal Films will open up new global strategic directions for the company and its employees. At the same time, I would like to thank our current shareholder M&C for its commitment and support over the last decade.’
The Treofan Group, a leading global manufacturer of biaxially oriented polypropylene films (BOPP films) for packaging, labels and technical applications, has almost 50 years of experience in the BOPP market and has attained a place for itself as a worldwide premium provider to FMCG brand manufactures and their converters, as well as the tobacco and electrical industries. Treofan, with great capabilities in innovative solutions, offers high-quality film products and tailor-made, intelligent solutions in more than 90 countries. The Treofan Group operates three production sites in Germany and Italy.