Packaging firm Elopak has announced the creation of a joint venture with Indian multi-business conglomerate GLS Group, to expand its development of fresh and aseptic packaging solutions for liquid foods.
In a statement, Elopak said that the new venture, GLS Elopak, which will be headquartered at Gurugram in Haryana, India, 'will leverage the respective expertise, assets and networks of Elopak and GLS to capitalise on the significant consumer demand in India'.
The joint venture is in line with Elopak's ambitions to expand geographically, it added, which is one of its five strategic growth pillars, as well as renewed focus on sustainability and innovation.
Growth Strategy
“We are delighted to announce this latest exciting step in our journey as we look to deliver on our growth strategy. India is the world’s biggest milk market, with serious growth potential," commented Elopak CEO Thomas Körmendi.
"Together with GLS, there is an opportunity for us to be at the forefront of offering innovative and sustainable packaging solutions to this market that protect both the product and the environment.”
Körmendi added that GLS Group's processing capability is "impressive", and the group looks forward to "working with them closely through GLS Elopak to capitalize on this opportunity to meet growing demand".
Read More: Elopak Sees 12% Revenue Growth In The Fourth Quarter
Manufacturing Hub
GLS Elopak's manufacturing hub will be located close to Delhi, at Rewari in Haryana, India, and will be the only producer of fibre-based packaging for liquid foods in the Haryana area.
“Given the growth potential in India and the need for alternative packaging solutions, especially in the fresh milk and water segment, GLS Elopak will be able to add value and contribute to the country in the best possible manner,” added GLS director Arpit Goyal.
© 2022 European Supermarket Magazine – your source for the latest packaging news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
