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International Print-o-Pac, the Indian packaging and printing company, is reported to be in the process of acquiring a UK-based company.

Chairman Ravindra Singhvi told India's Economic Times: "We are looking for acquisitions in the domestic and international markets. Currently, we are talking to a UK-based company."

However, he declined to name the company.

"The UK office will cater to European and North American markets, whereas the UAE office will help us managing our Middle-East and CIS counties' operations," Singhvi added.

IPP is a paper and board converter, and in 2007 recorded revenues of almost £200m.