Tribune News Service
Chandigarh, November 3
Denmark-based packaging firm Brodrene Hartmann A/S has acquired Mohali-based Mohan Fibre Products Ltd., manufacturer of moulded fibre packaging for eggs and fruits, for around Rs 125 crore. The company intends to expand its Indian footprint further by pumping in another Rs 100 crore to ramp up production capacity.
“The entry of Hartmann will revolutionise the packaging industry. The buyout establishes a solid platform for the company in the Indian market which is characterised by favourable demographic development and increasing egg and fruit production. The buyout marks a strategic decision to enter the Indian market in which we see a significant growth potential,” said Munishwar Kumar, MD & CEO of Hartmann’s India operations.