The Indian market for flexible packaging is currently undergoing a transformation. Siegwerk's acquisition of Hi-Tech Inks creates the largest player in this sector, with a market share of over 20 per cent. This move is a significant milestone for Siegwerk and underlines the company's commitment to expanding its presence in the Asian region.
The acquisition of Hi-Tech Inks enables Siegwerk to further consolidate its market leadership in the field of printing inks and coatings for packaging applications. With two new production sites in Bhiwadi and Vapi, operational stability will be strengthened and capacities significantly expanded. This will enable Siegwerk to offer its customers in India even greater security of supply and a broader product range.
„This acquisition strengthens our position in the Indian flexible packaging market and expands our ability to support customers with even greater reach, expertise and innovation,“ said Ashish Pradhan, President of Siegwerk Asia. The integration of Hi-Tech Inks into the Siegwerk family is seen as a strategic move to actively shape the next phase of growth in the industry.
Expansion of the product portfolio
With the acquisition, Siegwerk is expanding its product portfolio to include a wide range of printing inks, including solvent and water-based inks as well as metallic and special effect inks. This opens up new opportunities for innovation and growth that will benefit both packaging manufacturers and brand owners. Karan Mahajan, Managing Director of Hi-Tech Inks, sees the acquisition as a significant milestone for his company and emphasises the new opportunities that arise from combining the strengths of both companies.
Strategic importance for Siegwerk
The acquisition is the largest for Siegwerk since the acquisition of SICPA's packaging ink business in 2005 and underlines the company's long-term commitment to the Indian packaging industry and its aim to support the market with advanced technologies and sustainable solutions. The pooling of expertise and shared values will actively shape the next phase of the Indian ink and coatings industry.
The transaction is expected to be finalised in the coming weeks, subject to customary conditions.
Source: Siegwerk
