Essentra, a global provider of specialist packaging and authentication solutions, recently acquired the pharma assets of Kamsri Printing & Packaging based in Bengaluru, India. A Narayanaswamy, General Manager – Essentra India, shares more details about the acquisition, its India strategy and more, in an interaction with Lakshmipriya Nair
You recently acquired the pharma assets of Kamsri Printing & Packaging. Can you share more details about the deal?
Essentra acquired the cartons manufacturing assets of Kamsri Printing & Packaging. These assets have been incorporated into Essentra’s existing Bengaluru site located in the Peenya Industrial Area, and have resulted in the creation of 120 additional local jobs. As part of the transaction, Essentra has retained key personnel to ensure consistency for our customers. The carton capabilities added to Essentra existing tear tapes and securing solutions packaging portfolio will enhance our offer and enable Essentra to serve the growing pharma sector in India.
What share of your revenue comes from the pharma packaging? How will the new acquisition help you increase the revenue from this sector?
Globally, Essentra’s packaging business unit had a turnover of £394.4 million GBP in 2015. Of this, approximately 75 per cent of the business is related to the health and personal care industries. The extension of our product offering into India will help Essentra meet the needs of our global customer base even better, while also allowing us to service the growing local pharma market more effectively. Essentra views India as an important dynamic market, both for production, consumption and exports of pharma products based on the investment and economic development occurring in the region.
How will this deal expand your offerings for the pharma companies in India?
Prior to the acquisition, Essentra was not in a position to service the secondary pharma packaging market with local carton manufacturing, so the acquisition expands Essentra’s offering to pharma companies in India. This will enable us to better service the needs of customer locations in India – improving delivery times and our ability to respond to market requirements.
What are your further plans for India in this fiscal year? What kind of investment have you planned for the Indian market?
Essentra has a track record of investment on a global basis. Essentra first started serving the packaging market in India 16 years ago with its tear tape portfolio. Over time, the company has grown from a position of just trading to outright manufacturing. In 2013, Essentra opened its 70,000 sq. ft. state-of-the-art site in Bangalore which is fully accredited to ISO 9001, ISO 14001 and OHSAS 18001 standards. In terms of additional investment in the Indian market, we intend to expand our specialist packaging range further over the coming year.
lakshmipriya.nair@expressindia.com