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Essel Propack informs about Outcome of Board Meeting

13 Jul 2015 Evaluate

Essel Propack has informed that the Board of Directors of the Company at its meeting held on July 13, 2015, has approved the divestment of its wholly owned subsidiary, Packaging India (PIPL) to Amcor Flexibles India. The agreement to this effect has been signed and the deal completed for full cash consideration. The divestment is part of Company’s strategy to exit non-core adhesive lamination packaging business and pursue growth opportunity in its core tube packaging business which has great potential across the globe in the Beauty & Cosmetics, Pharma & Health and Food categories. Consequent to the above, Packaging Indio has ceased to be a subsidiary of Essel Propack with immediate effect. The present deal will provide PIPL and its talent an opportunity to further grows and prospers in the flexible packaging space as part of Amcor, an Australia listed global packaging company engaged in flexible and rigid packaging.

The above information is a part of company’s filings submitted to BSE.

EPL Share Price

233.25 3.25 (1.41%)
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Peers
Company Name CMP
Uflex 406.10
EPL 233.25
AGI Greenpac 585.45
Huhtamaki India 190.40
TCPL Packaging 2647.00
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