Global firm Essentra has purchased the pharmaceutical assets of India-based Kamsri Printing & Packaging.
Financial details of the transaction have not been divulged.
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Essentra managing director for Asia PT Sreekumar was quoted by Business Standard saying: "With its highly complementary product range, Kamsri provides us with an entry point into the attractive pharmaceutical and healthcare industries in India."
Sreekumar added that the acquisition reinforces Essentra’s packaging capabilities and bolsters opportunities for clients.
Sreekumar said: "Our health and personal care packaging business now has a manufacturing presence in North America, Europe and India, and ships our extensive range of innovative products to 75 countries worldwide."
Manufacturing assets of Kamsri, a cartons manufacturer, will be merged into Essentra’s existing facility, which was opened three years ago.
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By GlobalDataEssentra India general manager A Narayanaswamy was quoted by International Business Times saying: "The end markets for our specialist components, such as healthcare and industrial products, are sizeable and well-established, with annual growth of up to 20%."
Based in the UK, Essentra has presence in 33 countries and employs 9,000 people. With this purchase, Essentra’s health and personal care packaging unit will have manufacturing hubs in North America, Europe and India.
Its health and personal care packaging are shipped to more than 70 countries.
