Aug 6 2004
Essel Propack, world’s largest manufacturer of laminated tubes, with manufacturing in 11 countries with 17 plants, has acquired 100% stake in Arista Tubes, UK. Arista Tubes is the leading manufacturer of plastic seamless tubes in UK. The tubes are used in cosmetics, personal care, toiletries and pharmaceutical sectors. The acquisition has been made through Lamitube Technologies Limited, Mauritius, a wholly owned subsidiary of Essel Propack. Essel Propack at present has a plastic seamless tubes plant at Wada, India. With this acquisition, Essel Propack, which has 30% global market share in laminated tubes, has begun its consolidation of seamless plastic tubes business in global arena.
Announcing the acquisition in London, Ashok Goel, Vice Chairman and Managing Director of Essel Propack said, “More than the acquisition of Arista Tubes, I term this as an acquisition of knowledge in plastic tubes technology, entry into new markets and new opportunities. This, indeed, is a quantum leap for Essel Propack, aimed at broadening our market offering which I am sure will infuse an accelerated growth. As for Arista Tubes, nothing changes as regards to its constituents such as management, vendors, personnel, service agencies etc.” Speaking of the logic behind the acquisition, R. Chandrasekhar, COO of Essel Propack said, “Arista Tubes is a perfect match. The two organizations have complementing strengths vis-àvis the knowledge of technology and products manufactured. This move has propelled Essel Propack into new markets with new products for its existing clients as well as for new clientele. Global reach of Essel Propack coupled with Arista Tubes’ knowledge will make us a force to reckon with in the plastic tubes business as well in the global arena.”
>Arista Tubes, UK, founded in 1998, manufactures plastic seamless tubes for cosmetics, personal care, toiletries and pharmaceutical segments. The Company has 30% market share in UK & Ireland and caters to the speciality packaging needs of globally reputed cosmetics, personal care and pharmaceuticals majors in Europe. The Company has an integrated manufacturing facility at Stevenage, located 30 miles north of London. The Company has state-of-the-art technology and employs efficient manufacturing & process tools such as Six Sigma. The strengths and capabilities of Arista Tubes is given in Annexure-I. The present team at Arista Tubes headed by Jeremy Paul, Managing Director, Ben Stephens, Director Finance & Company Secretary, and Evelyn Tweedlie, Director sales, will continue to run the operations of the Company.
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