CORRECTING and REPLACING IPACKCHEM to Acquire and Partner With Mullackal
Fourth paragraph, first sentence of release should read: "We are extremely excited to partner with Ramesh and Karthik Pillai..." (instead of "We are extremely excited to partner with Reams and Parthia Pillai...").
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211108005768/en/
(Graphic: Business Wire)
The updated release reads:
IPACKCHEM TO ACQUIRE AND PARTNER WITH MULLACKAL
Transaction further strengthens IPACKCHEM’s global position by establishing a footprint in India
IPACKCHEM Group (“IPACKCHEM”) today announced it has signed a definitive agreement to partner with Mullackal Polymers Private Limited (“Mullackal”), a leading crop protection packaging provider in India, via an acquisition of the business.
Founded in 1987 by JP Morvan, IPACKCHEM is a leading global supplier of innovative and specialized barrier packaging solutions serving the crop protection and specialty chemicals end markets. IPACKCHEM’s leading market positions are further underscored by its strong sustainability orientation and 100% recyclable plastic barrier packaging. It currently has facilities across Europe, the UK, Russia, China, Brazil and South Africa.
With three facilities in Western India, Mullackal is a manufacturer of premium HDPE and barrier plastic containers, caps and measuring cups for India’s crop protection and specialty chemical industry. Founded in 1976 by P.K.N. Pillai, Mullackal pioneered plastic barrier manufacturing technology in India and today serves the largest multinational crop protection players with a presence in India. The partnership with Mullackal will allow IPACKCHEM to establish a strong presence in India’s large and high-growth market and position it for future expansion in the country.
JP Morvan, CEO of IPACKCHEM, commented, “We are extremely excited to partner with Ramesh and Karthik Pillai, who have built a high-quality and innovative business, and we look forward to accelerating Mullackal’s growth under IPACKCHEM ownership. By leveraging IPACKCHEM’s sustainable barrier technology, Mullackal will be uniquely positioned to provide high-quality recyclable packaging for customers in India. Similarly, we expect to leverage Mullackal’s proprietary caps technology (CRTESS) across IPACKCHEM’s existing product portfolio. This transaction is core to our strategy of being the leading global barrier packaging player serving crop protection and specialty chemicals customers. We will continue to aggressively pursue acquisitions in new geographies, including North America, to fully mirror our clients’ global footprint.”
Mullackal owner and Managing Director Ramesh Pillai said, “IPACKCHEM is the perfect partner for Mullackal and we are excited to continue providing best-in-class packaging to India’s leading crop protection players with the added benefit of IPACKCHEM’s resources and industry relationships. Karthik and I will continue to lead Mullackal and look forward to working with JP and his team to bring their innovative solutions to the Indian market and grow our presence in India.”
In partnership with SK Capital Partners, IPACKCHEM is continuing its international expansion to better support its multinational customers globally, leveraging its unique industrial know-how and strong commitment to sustainability. SK Capital, which acquired IPACKCHEM earlier this year, is a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors with more than $5 billion of assets under management and a global portfolio of businesses generating approximately $11 billion of revenues annually.
The transaction is expected to close towards the end of 2021. KPMG acted as exclusive M&A advisor and CK Juris and Pioneer Legal acted as legal counsel to IPACKCHEM. EY acted as exclusive M&A advisor and Lumiere Law Partners acted as legal counsel to Mullackal.
Headquartered in Paris, France, IPACKCHEM is a leading global manufacturer of innovative plastic packaging products (containers, bottles, jerrycans) for the crop protection and specialty chemicals end markets. The Company’s UN-approved packaging solutions enable users to safely transport and distribute “hard-to-hold” and hazardous chemicals, while adhering to stringent regulations. IPACKCHEM currently operates through 8 production facilities, employs ~850 people and serves ~1,200 customers in 35 countries. IPACKCHEM carries an Ecovadis Gold rating. For more information, please visit www.ipackchem.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Schlumberger Announces Redemption of 100% of Outstanding 2.40% Senior Notes Due 202230.11.2021 23:00:00 CET | Press release
As part of its ongoing commitment to debt reduction, Schlumberger Limited (“Schlumberger”) today announced that Schlumberger Investment SA, an indirect wholly-owned subsidiary of Schlumberger (“SISA”), will redeem the entire outstanding principal amount of its 2.40% Senior Notes due 2022 (CUSIP Nos. 806854AD7 / L81445AD7; and ISIN Nos. US806854AD77 / USL81445AD75) (the “Notes”). The redemption date for the Notes is May 2, 2022 (the “Redemption Date”). The aggregate principal amount of the Notes outstanding is $1,000,000,000. SISA has deposited sufficient funds with The Bank of New York Mellon, the trustee under the indenture governing the Notes, to satisfy and discharge the Notes and the indenture with respect to the Notes (including payment of the February 1, 2022 interest payment with respect to the Notes and the redemption price payable on the Redemption Date), and the trustee has acknowledged such satisfaction and discharge. The Notes will be redeemed on the Redemption Date at a re
ITT’s Connector Business Introduces Veam MOVE-MOD™, Delivering True Modularity in Circular Interconnects30.11.2021 17:03:00 CET | Press release
November 30, 2021-- ITT Inc.’s (NYSE: ITT) connector business introduces its ruggedized, modular circular series Veam MOVE-MOD™. The flexible design delivers power, signal, and data in a single connector by utilizing a range of snap-in modules with various contact layouts to match individual system requirements. Developed for use in harsh environments, these ultra-durable connectors are suitable for a wide range of applications, including rail, heavy and off-road vehicles, alternative energy and infrastructure, robotics, and other industrial equipment. “Our customers have relied on Veam connectors to overcome their critical challenges for more than 60 years. MOVE-MOD is a next-generation solution designed to meet their evolving needs,” says Ellen McMillan, Vice President and General Manager Europe, ITT Connect and Control Technologies. “The modular nature of these innovative connectors give long-term flexibility to adapt, convert and expand connectivity post-design-in by simply swappin
Interactive Brokers Expands Tools for Global Investors30.11.2021 16:00:00 CET | Press release
Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today introduced GlobalAnalyst, a new tool that lets investors compare the relative valuations and financial metrics of stocks globally. GlobalAnalyst is designed for investors interested in international portfolio diversification to discover undervalued companies that may have greater growth potential. Recognizing that it can be challenging for investors to evaluate the relative merits of stocks traded in different currencies, Interactive Brokers created a simple yet powerful tool to compare any number of stocks by various metrics in one of 27 currencies of the user’s choice. Similarly, users may buy and sell and follow these stocks in the currency of their choice, all in one account on one screen. Using GlobalAnalyst, investors can search for stocks by region, country, industry, market capitalization and currency to identify undervalued stocks worldwide. A table displays current market and various financial metrics, s
New 7197PCP-DIN-NX Controller Improves Operational Efficiency by Allowing Centralized Control of Volumetric Dispensing Pumps30.11.2021 15:15:00 CET | Press release
Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer, introduces the 7197PCP-DIN-NX controller for 797PCP progressive cavity pumps. This controller provides Ethernet connection with Transmission Control Protocol / Internet Protocol (TCP/IP) for Smart Factory and Industry 4.0 manufacturing integration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005031/en/ Improve operational efficiency by programming 797PCP volumetric dispensing pumps directly from a PLC via 7197PCP-DIN-NX controllers. (Photo: Business Wire) “This is enabling technology that allows our customers to be more lean, more efficient, more productive and more versatile as we prepare to enter fourth industrial revolution,” said Claude Bergeron, Senior Product Line Manager, Nordson EFD. “By helping manufacturers prepare, we ensure they won’t get left behind as Smart Factories transfer significant value to
AGCO Agriculture Foundation and MANRRS Announce a Three-Year Partnership to Advance Minority Representation in the Agricultural Industry30.11.2021 15:00:00 CET | Press release
The AGCO Agriculture Foundation (AAF), a private foundation committed to ending hunger through sustainable agricultural development, today announced a three-year partnership with Minorities in Agriculture, Natural Resources, and Related Sciences (MANRRS) to increase student representation from underrepresented backgrounds and to promote the agriculture industry as an admirable and sound career choice. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005271/en/ AGCO Agriculture Foundation announces partnership with MANRRS (Graphic: Business Wire) Funded by the AAF, the project will provide scholarship opportunities for tailored internship roles and support for hiring talent from underrepresented groups. The focus areas will be agronomy, agribusiness, engineering, data science, software development, sustainability, field technicians, and related disciplines. The goal is to increase diversity and promote the agricultural in
Sekisui House, Ltd.: Working With Customers for 20 Years to Conserve Urban Biodiversity With the Gohon no ki Indigenous Landscaping Concept30.11.2021 15:00:00 CET | Press release
Sekisui House, Ltd. (TOKYO:1928) has been pursuing the conservation of biodiversity since 2001 by creating green networks in urban residential districts under its Gohon no ki (“five trees”) indigenous landscaping concept. Together with the University of the Ryukyus1, the company has analyzed the outcome of the Gohon no ki Project that it has implemented with 1 million customer households2 over the space of 20 years, and has designed the world’s first mechanism for quantitatively evaluating urban biodiversity. It has published this qualitative evaluation mechanism today as a nature-positive methodology for promoting the conservation of biodiversity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005350/en/ Results of quantitative evaluation analysis (1) - The number of native tree species in each region—the foundation of regional biodiversity—has increased tenfold. (Graphic: Business Wire) The Gohon no ki Project Since
CHG Healthcare Switches to Rimini Street to Achieve Better System Availability, Smoother Operation and Enhanced Outcomes for 25 Million Patients Annually30.11.2021 15:00:00 CET | Press release
Rimini Street, Inc. (NASDAQ: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that CHG Healthcare, the nation’s largest privately-held healthcare staffing company, has switched to Rimini Street support for its JD Edwards software. By switching support providers, CHG Healthcare now has an extension of its in-house IT team that includes Rimini Street’s expert, forward-thinking engineers who provide true, follow-the-sun, around the clock global support. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005173/en/ CHG Healthcare Switches to Rimini Street to Achieve Better System Availability, Smoother Operation and Enhanced Outcomes for 25 Million Patients Annually (Photo: Business Wire) Assuring Medical Staff is Available to Serve Patients Headquartered in Midvale, Utah, CHG Healthcare