13 September 2012 12:34 [Source: ICIS news]
LONDON (ICIS)--Treofan has made an offer to acquire 100% of the bi-axially oriented polypropylene (BOPP) film division of Max India Limited, the German polypropylene manufacturer said on Thursday.
The non-binding offer has been accepted by the Indian conglomerate’s board of directors, but remains subject to conditions including regulatory approval and execution of satisfactory sale and purchase agreements, Treofan said. An offer price was not disclosed.
Max Specialty Films is one of India’s largest BOPP producers, manufacturing around 50,000 tonnes/year of the material, which is used in the food packaging, consumer products, labels and textile industries.
Treofan currently operates four production plants in Germany, Italy and Mexico.
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