Jindal Poly Films, an international supplier of innovative and sustainable films for the flexible packaging industry, has signed an agreement to acquire 100% of the Italian-based nylon film specialist DOMO Films Solutions Spa from the private group DOMO Chemicals. % Shares.
DOMO Film Solutions is one of Europe's major nylon film manufacturers, mainly producing nylon films (including biaxially oriented BOPA and cast extrusion CPA) for flexible packaging in food, pharmaceutical, medical and other industrial fields.
The acquisition will enhance Jindal Poly Films' technology, capabilities and market influence in the pharmaceutical, medical and other high-end flexible packaging fields, combining biaxially oriented (BOPA) and cast extrusion (CPA) nylon films with the existing full range Combine polyolefin-based films. This means that the group will become a full-service supplier on a global scale, further expanding the scope of plastic film in its flexible packaging processing value chain.
Manfred F. Kaufmann, CEO of Jindal Poly Films Europe, said: "Domo Film Solutions is a rewarding investment in the continuous development of the group. As a well-known European company with BOPA and CPA films, Domo Film Solutions The company will well complement our existing business in Europe. Together we will continue to serve the European and global flexible packaging industry."
Yves Bonte, CEO of DOMO Chemicals, confirmed: "We believe that our choice of Jindal Poly Films is correct, which can further provide DOMO Film Solutions and customers with a sustainable future in the flexible packaging industry. This is also DOMO's focus. A step in the field of polymers and engineering materials."
Attilio Annoni, General Manager of DOMO Film Solutions, added: "Combining the two companies' leadership in sustainable development will enable Jindal Poly Group to better exceed the expectations of customers and regulators and further reduce its environmental impact. DOMO Film Solutions is currently operating in a way of gradually improving/reducing its carbon footprint, purchasing 100% renewable energy, and co-developing recyclable/recyclable nylon resins with upstream chemical companies for use in its green product line NYLEEN™ ."
The completion of the transaction requires multiple regulatory authorizations and is expected to be completed by the end of the first quarter of 2021.