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MWV acquires stake in Indian box manufacturerliz.wells@haymarket.com, 24 October 2008Be the first to comment on this article MWV has acquired a 51% equity stake in India-based corrugated box manufacturer Wadco Packaging Pvt. The MWV Wadco joint venture will extend the corrugated packaging design, manufacturing and technology capabilities of Wadco and MWV to India’s local fresh produce market, where there is a 40% value loss of the produce before it reaches the market due to inefficient post-harvest practices, processing and handling. MWV will oversee Wadco operations and Pankaj Wadhwa, current owner of Wadco, will continue to run the company as managing director. Wadco will begin manufacturing MWV’s rigid, humidity-resistant agri-produce corrugated packaging, and apply it to the Indian produce market as well as the other markets it currently serves, including consumer goods, household appliances and pharmaceuticals. Bruce Thomas, senior vice president of global market strategy and emerging markets at MWV, said: “Wadco’s manufacturing capabilities and on-the-ground expertise combined with MWV’s advanced packaging technology will provide solutions that meet the business challenges of the Indian marketplace. “This transaction supports our overall strategy for growth in emerging markets and is an important step in enabling us to better address local needs while building our presence in the fast-growing Indian market,” he added. MWV employs 23,000 people across 30 countries and serves more than 100 nations. It specialises in packaging for the healthcare, beauty, food, beverage, media and home and garden industries. Speak Your Mind |
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