Blackstone buys majority stake in Essel Propack
U.S.-based Blackstone Group agreed to buy a 51 percent stake in Essel Propack Ltd, India's largest rigid plastic packaging provider said here on Monday. Blackstone will buy the stake from the Ashok Goel Trust at 134 rupees per share, representing a premium of 1.1 percent over the company's Monday closing price.
Under India's takeover rules, the transaction triggered a mandatory open offer in which Blackstone, along with Epsilon BidCo Pte Ltd, offered here to buy an additional 26 percent stake in Essel for 11.42 billion rupees ($163.92 million).
The total deal value will range from $310 million to $462 million, based on the open offer. The Trust will retain a 6 percent stake in the company, Essel Propack said. Amit Dixit, senior managing director and head of private equity at Blackstone India, said the firm saw an opportunity to use Essel Propack as a platform to acquire more packaging companies. “The ability for acquisitions (through Essel Propack) is one of the reasons it is a good partnership," said Dixit, adding that the PE firm would look at acquisition opportunities in foreign countries as well.
Blackstone expected Essel Propack's future growth to come from companies in beauty, cosmetics and pharmaceutical segments, driven by high consumption growth in emerging markets, said Dixit. “Essel Propack has decade-long relationships with marque global customers and a track record of product innovation," said Dixit. “The firm is a leader in emerging markets and well-positioned to benefit from consumption growth across categories. This investment follows Blackstone's long-standing belief and track record in the B2B2C sector." Goel would don the role of an adviser in Essel Propack for the next five years, he said.
“As we embark on the next trajectory of growth at EPL, Blackstone brings deep expertise in the packaging space globally with a senior team of highly-experienced professionals with a proven track record of creating value. I see Blackstone as a partner with the same values, culture and ethos,” Ashok Goel, Chairman and Managing Director at EPL, said.
“We will strengthen our service levels and deliveries to our customers and build stakeholders-value together. Our leadership will stay intact, including the senior management and regional heads, because continuity is a very important theme for us," said Goel. For the quarter ended 31 December 2018, Essel Propack earned a profit of ₹17.37 crore on revenue of ₹221 crore, marginally rising from a profit of ₹13 crore on revenue of ₹209 crore in the preceding quarter.
Essel Propack, founded in 1982, produces laminated tubes at its 20 manufacturing facilities across 10 countries. It employs more than 3,158 people, producing seven billion tubes annually. Its clientele includes global brands in the oral care, beauty, cosmetics and pharmaceutical industries.
Essel Propack is the world's largest producer of laminated plastic tubes used by FMCG and pharmaceutical companies.
Drink Technology India South sees 6,481 visitors and 90 brands, attending the first editon
The first edition of Drink Technology India South (dti-South) was held in Bengaluru from 10 to 12 April. With the show, featuring more than 90 brands, 6,481 visitors and an extensive supporting programme, the dti family has expanded its footprint to the southern region of India. “We are delighted that the first edition of dti-South in Bengaluru was so compelling. With it we have created an especially customized platform best suited to address the needs of our participants with even better networking opportunities with relevant buyers of the region.,” says Petra Westphal, Exhibition Group Director of Messe München. The local approach is intended in particular to address those sectors that are represented locally. Bhupinder Singh, CEO of Messe Muenchen India, explains: “In this region of India, non alcoholic beverages as well as beer are predominant segments. Key exhibitors addressing these sectors, such as Ambicon Breweries, DVKSP, Goma Engineering and Hilden Packaging, presented their solutions and were able to get the most out of the visitor potential in the metropolitan region.”
This is also reflected by the positive response of the exhibitors as expressed by Mr. Jeetendra C Rane, Aquapuro Equipment Pvt. Ltd.: “For the first time we are targeting the South Region and the idea behind participating in dti-South was to target the Bengaluru and South Market: We are not only happy with the number but also with the quality of visitors. We will be participating in all the upcoming editions of drink technology India.”
Supporting program: Buyer-Seller Meetings and beer trends
With over 500 meetings, the Buyer-Seller forum was very well received. Prior to the trade fair, potential customers were able to register for the meetings in order to meet specific exhibitors and initiate new business relationships. These included Amrut Distilleries, Hindustan Coca Cola, John Distilleries, Kaveri Industries,Marico Limited, Mondelez International, Mother Dairy, Pepsi, Pernod Ricard, and United Breweries, to name a few. Vijaya Kumar, Team Leader- Quality Assurance, Hindustan Coca-Cola Beverages Pvt. Ltd. one of the key buyer quoted: “The purpose of our visit to drink technology India-South was to understand the new technologies in the market. This event was organized very well. We were able to sense some of the new technologies which we can engage in our organization and we would like to thank the organizers for this beautiful event. The quality of the meetings were very good at the buyer seller forum.” From trends and ingredients for brewing to craft beer variations: In addition to the Buyer-Seller Meetings, the place2beer and the Brewer World Seminars provided insights into future topics of the industry. Representatives of microbreweries, medium-sized and industrial breweries as well as suppliers for the brewing industry used the place2beer for networking and knowledge exchange. In addition to this platform, where even Indian beer was tasted, the Brewer World Seminars took place on the first and second days of the trade fair. There, experts discussed topics such as quality assurance of raw materials and ingredients and global trends in beer brewing.
Dti-North will take place in New Delhi in December of this year in conjunction with pacprocess and food pex India from Messe Düsseldorf India. “We are pleased to host the trade fairs at Pragati Maidan from 12 to 14 December 2019,” said Singh.
In North India, the focus is on dairy, soft drinks and beer. Drink Technology India is an international hub for beverages, dairy and liquid food industry in India. The next event will take place from 9 to 11 December 2020 in Mumbai.
Cosmo Films launches High barrier CPP films
Cosmo Films, a global leader in specialty films for flexible packaging, lamination and labeling applications as well as synthetic paper has recently introduced a cast polypropylene (CPP) film for packaging applications requiring high moisture and oxygen barrier and high hot tack properties.
The newly launched heat sealable CPP films also offer high hot tack (>600gf/inch over a range of 100-140 degrees Celsius) and low seal initiation temperature; enabling packaging machines to run at higher speeds.
As far as barrier is concerned, the films offer good moisture, oxygen, light and aroma barrier properties. The films offer an OTR and MVTR of <30cc/m2/day and <0.3g/m2/day respectively. The high barrier metallised films also offer high metal bond.
The films have been tested well for biscuits, cookies & crackers, snack food applications, chocolates, and ice-creams. Available in a range of 20 to 30 microns, the films are well suited for both adhesive as well as extrusion lamination. Pankaj Poddar, CEO, Cosmo Films, said, “We see more and more CPP being used globally as well as India as a choice material for packaging applications in food and agriculture owing to its high transparency vis-à-vis polyethylene and excellent sealing performance. Cosmo Films with years of experience in the polypropylene space has worked hard to come up with an extensive range of CPP films that it offers today both from functionality as well as mono-materialisation standpoint.”
New innovation from Evian
Evian (re)new is the latest evian innovation: a connected in-home natural mineral water appliance featuring a unique design that significantly reduces plastic packaging. It is a collapsible water dispenser made of recycled plastic, which is as "thin and light as a bubble". Called Renew, the at-home appliance, which stores up to five litres of Evian mineral water, contracts when water is consumed, taking on a new shape after every use.
The introduction of this sleek in-home natural mineral water appliance is the latest move from evian in its journey to become a circular brand by 2025 and will build on the brand's ambition to be carbon neutral by 2020.
“I've always been inspired by great design and how it can shape our lives, which is why I'm excited to see evian pushing the boundaries with the design of this disruptive new product that will transform the way we drink evian water at home” Virgil Abloh, evian Creative Advisor for Sustainable Innovation Design The collapsible 5L 'bubble' surrounding the water incorporates new generation design thinking leveraging the physics of materials: the thin and light 'bubble' is 100% recyclable and made of a 100% recycled plastic (rPET) skin that contracts when the water is consumed, taking on a new shape after each use. It uses -66% less plastic than a 1.5L evian bottle*.
“You will be able to order evian at the touch of a button on the base of the appliance, which is connected to the evian (re)new app. The app is able to track the amount of water consumed and notify you when a re-fill is needed. This effortless e-commerce offering provides a free, connected experience meaning you will never be without the unique purity of evian natural mineral water” He said.
Part of wider environmental pledges
The thin skin of the dispenser's bubble-like top is made using 66 per cent less plastic than a standard 1.5 litre Evian bottle. Unlike Evian's regular water bottles, this skin is made from 100 per cent recycled plastic. Last year the brand announced its intention that all its water bottles will be made solely from recycled plastic by 2025. "At Evian, we owe everything to nature and are committed to a healthy planet. This will only be achieved by new ways of thinking and of doing business," said Evian global brand vice-president Patricia Oliva. "This is why we're challenging ourselves to reinvent new ways to provide Evian natural mineral water to consumers," she explained. The Renew collapsible water dispenser will be trialed across Paris and London from May this year with 200 selected consumers. "We are inviting consumers to join a community of early adopters who will be an extension of our innovation team, helping us to co-create this solution. Together we will fine-tune Evian Renew with a view to bringing a scalable and circular solution to the market," said Oliva. An increasing number of designers are responding to the world's plastic problem by rethinking the ways we consume water.
European industry organisations react to Single-Use Plastics Directive
On March 27th, the European Parliament approved the Single-Use Plastics directive. The European Parliament EUROPEN , while supporting the EU's overarching objectives of taking bold action against litter and marine litter in particular called on the European Commission and Member States to clarify without delay the provisions in legislation that remain ambiguous in order to ensure unified implementation across Europe. EUROPEN also calls on EU policymakers to focus their future work on ensuring coherence among the various (existing and upcoming) EU laws that regulate the production and use of packaging as well as the management of packaging waste in Europe. It also calls upon EU policymakers to develop evidence-based implementation guidance on the unclear terms without delay EUROPEN and its members have long been strong advocates of Extended Producer Responsibility (EPR) schemes as an essential component of waste management in Europe and consequently supported the adoption of EU minimum requirements in the revised Waste Framework Directive. Although we deplore the lack of policy coherence in having these requirements now dealt with through two different legislative texts, EUROPEN welcomes the SUP Directive recognition that “the fight against litter is a shared effort between competent authorities, producers and consumers”. “Looking ahead, our collective priority must now be to ensure as much uniformity as possible in the implementation of the SUP and resolve these legal uncertainties resulting from an unprecedentedly rushed legislative procedure”, said Hans van Bochove of Coca-Cola European Partners and EUROPEN Chairman. “The packaging value chain is committed to innovating for sustainability. This will require investments at scale. For this to happen, business needs clarity on the applicable rules and a coherent, long-term and stable EU policy framework. One single EU Circular Economy is preferable to 28 or 27 different ones,” underlined Van Bochove.
EUPC: Flaws in text
EuPC, while acknowledging the need for a clean environment and seas, still considers this legislative act and the text flawed, both on merit and on the procedural steps to hurry the overall legislative process.
Alexandre Dangis, EuPC Managing Director: “We regret the adoption of such a regulatory act, discriminating a material that has a crucial role in solving the current challenges for society globally in the decades to come. This vote will have a direct negative environmental impact and thousands of job losses all over Europe. It furthermore dictates countries and people how to live and change consumption habits without focusing on what's key, namely education and anti-littering behaviour. Littering will continue but with other products. Regrettably, no proper impact assessment or LCAs have been done within the extraordinary short timeframe as EU politicians carried on the wave of fighting for so called good cause.”
PlasticsEurope has fully endorsed the objective of stopping waste of any kind, including plastic waste, from being littered and leaking into the environment and has welcomed the formal adoption of the SUP Directive by the European Parliament. It is only with the help of other stakeholders, including private or public waste operators and local authorities, that plastics manufacturers can take action in order to find workable solutions. Setting guidelines on definitions and categories should follow promptly to avoid the risk that different interpretations will prevail among Member States. This could lead to adoption of provisions that could go beyond the requirements of the Directive and hamper the correct functioning of the EU Single Market. PlasticsEurope has calledupon the EU Commission to: i) ensure a highly rigorous monitoring and assessment of the upcoming national transposing measures and; ii) promptly act to prevent undue market distortions which can cause economic losses without achieving the desired waste prevention objectives.
Amcor and GSK win Alufoil Trophy for enhanced desiccated patient blister pack for Augmentin
The European Aluminium Foil Association (EAFA) awarded the Alufoil Trophy in the Product Protection category to Formpack Dessiflex Ultra, in recognition of the enhanced protection provided to the Augmentin product and the positive impact on the millions of patients who use it.
The new pharmaceutical packaging meets demand for a packaging solution that can absorb moisture, providing an impermeable moisture barrier via cross diffusion through the blister edges. The Formpack Dessiflex Ultra blister solution was developed by Amcor, and this specific package was done in partnership with GlaxoSmithKline (GSK) for their Augmentin product in the Pakistan market, and in close collaboration with packagingmachine manufacturer CAM-Partena. Noemi Bertolino, Product Development Director for Amcor said, “Winning this award in conjunction with our valued partners GSK and CAM Partena underscores our joint commitment to providing packaging that ensures patient safety. For Amcor, the award recognizes our commitment to innovation for our pharmaceutical customers, whose solutions help millions of people feel better, every day. Products like the Dessiflex range are made possible thanks to our long-term commitment to R&D, and partnerships with some of the biggest healthcare companies in the world.” Augmentin is used to treat a range of bacterial infections. Previously for the Pakistan market, Augmentin tablets werepackaged in a glass bottle with a desiccant sachet and sealed using an aluminium pilfer-proof closure with a liner. The new Augmentin blister pack, using Formpack Dessiflex Ultra, allows patients to access each individual tablet which assists with adherence because patients can more easily see how many tablets have been taken, and how many remain in the treatment. The new blister system made of Formpack Dessiflex Ultra is a smarter alternative to adding a desiccant wad or sachet to the six tablets within a glass container as it removes ingestion risk for the patient and reduces complexity on GSK's production lines. For any aluminium blister, moisture can enter the cavity via cross diffusion through the seal layer, or as part of the tabletpackaging process. Formpack Dessiflex Ultra eliminates that risk, and in addition, it can dry moisture within the atmosphere of the cavity during the packaging process. Formpack Dessiflex Ultra is the latest addition to Amcor's Dessiflex range of healthcare packaging which also includes Dessiflex Plus, for which Amcor holds a patent. The Alufoil Trophy is awarded to packaging that delivers products safely and hygienically. The judges recognized FormpackDessiflex Ultra's protective properties and its convenience for patients, compared with the previous industry-approvedpackaging solution.
Mintel announces global packaging trends
The market intelligence agency, Mintel, has announced four trends that will influence the global packaging industry in the year 2019. These are connected packaging, closing the loop, reinventing the box and plastic-free.
David Luttenburger, global packaging director at Mintel, said, “Brands have a wealth of options to connect virtually with packaging; from QR codes and other graphics markers to near field communication, radio frequency identification, Bluetooth and augmented reality.”
In simple terms, though recyclable packaging claims have become common, claims to include recycled content are still rare. In addition to it, the improvements will drive up the capacity for high-quality recycled material and will increase the usage of recycled material in new packaging. Closing the loop, the third trend, provides the opportunity to differentiate and ride consumer awareness of recycling issues. Reinventing the box is all about the limitless opportunities for brand marketers to think about the next generation of shelf presence, the 'hero images' on retailers' websites, and the 'unboxing' experience. In eCommerce, brands are learning that messaging and branding should be split between the secondary, or shipping container - shifting traditional decoration and copy to the interior. Maritime plastic pollution has become one of the world's most serious environmental problems, and there is a growing need for different attitudes to the material. “Brands should act now, either to ensure a place in emerging plastic-free zones by switching to acceptable pack materials, or by engaging with the debate, clearly explaining the benefits of plastic packaging to their product, and addressing plastic pollution concerns with appropriate end of life pack solutions,” Luttenburger added.
ASLAN to show high quality, self-adhesive speciality films at the Global Print Expo 2019
ASLAN, the global specialist in developing, manufacturing and marketing self-adhesive films, will be exhibiting at Global Print Expo 2019 in Munich. The German owner-managed manufacturer will showcase films including MetalLux ASLAN SE 50 and the Print MetalLux ASLAN SEP 50. Aslan will showcase two new classy self-adhesive films including the MetalLuxASLAN SE 50, which was launched in autumn 2018. The film has a luscious matt Champagne and Platinum finish, these films offers a sophisticated style into every room. They are suitable for entire surfaces or can be used as selective highlights.
ASLAN will show the printable version of both films Champagne and Platinum, known as Print MetalLux ASLAN SEP 50. Also belonging to ASLAN's metal effect range is the highly successful MirrorEffect AntiScratch ASLAN SE 75 in Silver and Gold. The film produces a double-sided mirror effect and is scratch resistant. The MirrorEffect SimplyApply ASLAN SE 76 is easy to apply on flat surfaces and is entirely removable. In addition, ASLAN has extended its very popular range of memoboard products including the Blackboard PP Dryapply ASLAN BBL 920, a PVC free blackboard film for writings with chalk and liquid chalk. The FerroSoft Blackboard ASLAN FF 540 is a PVC free blackboard film with the added advantage of being magnetically-receptive. To complete the memoboard range ASLAN has introduced a new magnetically-receptive matt whiteboard film, the FerroSoft Whiteboard matt ASLAN FF 490, which is also suitable for projections. All the memoboard films are highly scratch resistant and do not show any ghosting or shadowing even with regular use.