Tecnocap lands in India to make lug caps in joint venture with the Oricon Enterprises

Michelangelo Morlicchio, shareholder and founder of Tecnocap

Tecnocap, a global actor of metal packaging, announces its entry into India and Far Due east and signs the articulation venture with the Indian producer of metal and plastic packaging, Oricon Enterprise. Co-ordinate to the agreement, the 2 partner companies accept set upwardly the Newco "Tecnocap Oriental Pvt." based in Mumbai, controlled at 75% of the share capital letter by the Tecnocap Group through the acquisition of the Metallic Lug business concern of the Indian partner Oricon, which will concur the remaining 25% of the Company.

"This joint venture marks our total entry into the Indian and Far Eastern markets and represents a key phase in our international growth strategy, achieved through business organization diversification and expansion towards high growth markets", comments Michelangelo Morlicchio, shareholder and founder of Tecnocap who continues, "beyond seizing the great opportunities for market growth, this alliance gives u.s. the chance to exploit mutual synergies to operate successfully thanks to the highest quality products, services and logistics."

Founded in Italian republic in 1993, Tecnocap is a Global Metal Packaging visitor operating in the industrial product of metal closures for glass and plastic containers, aluminum droplets cans and bottles also equally capping machines with over 75% of its sales book generated abroad betwixt Europe and N America. The Group expects to accomplish a big turnover in the current year through eight product sites (Italy, Kingdom of spain, Czech republic, Ukraine and the United States), three R&D centers and over 900 employees. Moreover, a significant increase in operating margins is expected every bit an consequence of ongoing investments and the launch of several industrial projects for the recovery of production efficiency.

Tecnocap is admittedly focused on Sustainability, Social Responsibility and Digital Transformation and in 2022 the company published its kickoff Integrated Written report <IR> for the year 2018. The joint venture in India is office of the Grouping's international growth strategy through a consolidated M&A policy. The company management is also evaluating further opportunities in innovative businesses and emerging market areas.

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Source: https://packagingsouthasia.com/packaging-production/tecnocap-lands-in-india-to-make-lug-caps-in-joint-venture-with-the-oricon-enterprises/

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