Manjushree Technopack to acquire the plastics packaging business from Oricon for $63m.

Manjushree Technopack, an integrated packaging solutions provider, agreed to acquire the plastics packaging business from Oricon, a petrochemical products manufacturer, for $63m. “We are excited to bring Oriental Containers under our ownership as we continue our journey of rapid growth and establishing market leadership in India's rigid plastic packaging space. While we are already the market leader in three of the five segments we operate in (preforms, containers, caps and closures, pumps and dispensers, and recycling), this transaction will make us the leader in four. This strategic move underscores our dedication to delivering unparalleled quality and value to our customers and supporting them as a fully integrated partner for growth and business continuity planning. I am thrilled at the prospect of successfully integrating the business and the significant growth opportunities this opens up for us as we expand further over the coming period,” Thimmaiah Napanda, Manjushree Technopack Managing Director and CEO.